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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Jefferies upgrades Domino's Pizza to 'buy'

(Sharecast News) - Jefferies upgraded Domino's Pizza Group on Tuesday to 'buy' from 'hold' and lifted the price target to 430p from 410p. The bank said the upgrade was driven by new management, improved growth prospects, easing cost inflation, and likely shareholder returns.

"We see upside from higher growth, supported by our regional store screening analysis," Jefferies said.

The bank noted that its earnings per share estimates are 6% to 8% ahead of consensus in FY24-FY25 and its upside case reflects a step-up in store growth.

"We expect a March catalyst from an updated store growth target," it said.

At 0910 GMT, the shares were up 4.2% at 361.60p.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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