Domino’s Pizza (DPZ) edged higher Tuesday after TD Cowen upgraded the company’s stock to outperform from market perform (buy from hold). The analysts at the firm boosted their price target to $450 share from $420.
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CNBC’s Jim Cramer agrees that shares have more room to run, citing strong management under CEO Russell Weiner and a recent big-name partnership. The pizza chain announced a deal with Uber Eats earlier this year to include food orders on the app in a bid to boost U.S. same-store sales.
The “Mad Money” host described Domino’s as a company that “people gave up on,” but has strong potential. The stock is down nearly 2% over the past month but still up almost 13% year to date.
Domino’s is in the S&P 500 consumer discretionary sector. The CNBC Investing Club does not own DPZ but does own fellow consumer discretionary member Starbucks (SBUX).
Here’s a full list of the stocks in Jim’s Charitable Trust, the portfolio used by the CNBC Investing Club.