🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Domino’s Up On Rosy Analysis, But Market Cycles Less Optimistic

Published 06/26/2019, 05:21 AM
Updated 07/09/2023, 06:31 AM
US500
-
CSGN
-
DPZ
-

Summary:
  • Domino’s Pizza Inc (NYSE:DPZ) rose by 1% on Tuesday after Credit Suisse (SIX:CSGN) initiated coverage on the stock.
  • However, we believe DPZ may be due for a correction based on its market cycles.


Domino's Pizza (DPZ) Stock Weekly Chart

On Wednesday, Credit Suisse analyst Lauren Silberman initiated coverage on Domino’s with an outperform rating. Her price target is $320.

She explained, “Does optimism make sense, with worries about the strength of the economy and the age of the bull market persist? The short answer is yes—especially for big, well-capitalized players that are leading the charge in areas of the industry with the biggest growth.”

Our approach to stock analysis focuses on market cycles. For DPZ, we believe the stock may have entered the declining phase of its current cycle. Further, the stock has exhibited negative relative strength to the S&P 500 for several weeks. Our target is $252 by August.

For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.