Domino’s has issued one of its best quarterly updates for some time this morning. UK trading has been very strong in the period with c.15% LFL growth and other territories, in particular, Germany delivering impressive results also. We see scope for us to upgrade EPS forecasts by 3-4% this morning (with consensus likely to upgrade by 5-7%). This implies FY15 PBT growth of 24% and 10% in FY16. We are lifting out TP to 1000p and upgrading from HOLD to BUY.
14 Oct 2015
A very strong Q3 update; we upgrade to Buy
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A very strong Q3 update; we upgrade to Buy
Domino's Pizza Group plc (DOM:LON) | 321 -1.9 (-0.2%) | Mkt Cap: 1,288m
- Published:
14 Oct 2015 -
Author:
Sahill Shan -
Pages:
3
Domino’s has issued one of its best quarterly updates for some time this morning. UK trading has been very strong in the period with c.15% LFL growth and other territories, in particular, Germany delivering impressive results also. We see scope for us to upgrade EPS forecasts by 3-4% this morning (with consensus likely to upgrade by 5-7%). This implies FY15 PBT growth of 24% and 10% in FY16. We are lifting out TP to 1000p and upgrading from HOLD to BUY.