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Domino's Pizza shares plunged to their lowest level for more than a month, as investors abandoned stock prices downward
Stocks of fast food have fell $ 4.92, or 9.1% to $ 48.92 on Thursday. Credit Suisse badysts publish a report that brings Domino's price target to $ 36.76 vs. $ 42.47, citing concerns over a federal parliamentary inquiry into the franchise industry, the rising labor costs and questionable growth.
The joint inquiry of the Federal Parliamentary Committee on the Franchise Industry is expected to submit its final report by September 30 of this year.
Citi also reduced the rating of the fast food operator because of Japan's weakness. will result in lower profits in fiscal year 2019, setting a target price of $ 46.30.
Market badyst IG Kyle Rodda said that investors would likely continue to sell off "There are rather aggressive sales and we are not yet close to selling until the end of the year." target set by Citi or Credit Suisse, "he said
. published as Domino's shares fall to price decline
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