Domino's Pizza Enterprises CEO Change Increases Near-Term Risk -- Market Talk

Dow Jones11-11

0407 GMT - Domino's Pizza Enterprises is unlikely to boost investors' appetites until its new turnaround strategy is better understood, Morgans analyst Billy Boulton writes. Boulton says the underperforming Australian fast-food franchiser was right to change its CEO, but the move creates near-term uncertainty. Boulton notes that Mark van Dyke's track record suggests he is an ideal CEO for Domino's, but the near-term investment case has become trickier, given the lack of detail on his intentions. Morgans trims its target price by 7.5% to A$30.70 and maintains a hold rating. Shares are down 1.5% at A$30.03. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 10, 2024 23:07 ET (04:07 GMT)

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