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Papa John's stock falls toward 2-year low analyst sees signs of weak pizza sales

·1 min read
Papa John's stock falls toward 2-year low analyst sees signs of weak pizza sales

Shares of Papa John's International Inc. slid 2.6% toward a near 2-year low in morning trading Tuesday, after Stifel Nicolaus analyst Chris O'Cull cut his price target, citing signs that the pizza seller was "not delivering" in recent months. "We believe quick-service pizza may report the weakest SRS [same-restaurant sales] performance of any restaurant category during 3Q," O'Cull wrote in a note to clients. While it's "unclear" what's been hurting pizza consumption, he believes it may be a comb