Sam Boughedda

Investing.com — American pizza restaurant chain Papa John’s International Inc’s (NASDAQ:) has come under the spotlight of analysts, with Stifel, Northcoast and Oppenheimer talking positively of the firm in the last few weeks. 

Oppenheimer’s latest note today saw Brian Bittner renew his outperform rating with a $155 price goal for shares.

Bittner noted in a memo that Papa John’s was a high-conviction pick for 2022. Bittner stated that they would take advantage of the 14% year to-date pullback, vs.’s 8.8% into 4Q21 results (2/24).

He stated that there was a clear path to accelerating unit growth as well as a 20% discount on DPZ valuations [Domino’s Pizza]We believe this creates an attractive opportunity for investment.

Analysts also anticipate that 2022’s guidance will be more favorable than Street estimates.

Papa John’s stock dropped more than 2% Tuesday, despite comments.

Bittner follows Northcoast’s Jim Sanderson who bought the stock at neutral and upgraded it to buy in Bittner. Sanderson stated to investors that he believed the company is exceeding expectations and driving growth in sales. 

Stifel also commented positively on Papa John’s in January. He said that Q1 sales at same-restaurants are up despite last year’s Epic Stuff Crust Pizza success.