TD Cowen Downgrades Domino’s Pizza (DPZ) to ‘Hold’, Reduces PT to $460

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On January 5, 2026, Domino’s Pizza, Inc. (NASDAQ:DPZ) faced a much cautious stance from Wall Street. TD Cowen expert Andrew Charles downgraded the banal from “Buy” to “Hold” and reduced his terms people from $500 to $460. While Charles remains contented with the company’s underlying momentum, his downgrade is driven by a strategical displacement that has leaned much heavy into worth than antecedently anticipated. He besides highlighted the company’s robust same-store income (comps) maturation successful the U.S. Q2 2025 comps successful the U.S. were up 3.40% and planetary comps (ex-FX) were up 2.40%. The inclination accelerated successful Q3 2025 to 5.20% domestically and 1.70% internationally. However, Charles noted that the company’s expanding absorption connected little price-point offerings could soften borderline and net upside compared to earlier expectations. Accordingly, the expert maintains a balanced risk-reward view.

In contrast, a much constructive longer-term presumption connected Domino’s Pizza, Inc. (NASDAQ:DPZ) was shared by Bernstein successful aboriginal December, driven by value-led stock gains. The steadfast reiterated a $490.00 terms people with a “Market Perform” rating. The firm’s presumption is based connected management’s assurance successful continued traction from worth initiatives. Bernstein expects a caller worth programme to motorboat successful 2026, accompanied by higher advertizing walk to seizure incremental demand. Other catalysts cited by the expert included the afloat rollout of DoorDash successful the 3rd 4th and gains from the ongoing loyalty program. Management besides sees these factors importantly supporting U.S. comparable income into 2026.

Domino’s Pizza, Inc. (NASDAQ:DPZ) owns a planetary franchise-driven pizza network.

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