Domino's shares fell 3.2% after the company announced CEO Russell Weiner will retire, with President and COO Joe Jordan set to take over on October 1. JPMorgan lowered its price target to $380 from $430, BTIG cut to $425 from $450, and RBC Capital and Baird also trimmed their targets, with RBC citing increased competitive pressures. An analyst from Morgan Stanley noted the smooth succession plan is not expected to address short-term challenges. The stock was trading at $284.58, down 3.6% from the previous close.
Domino's Pizza Inc Common StockCEO retirement and multiple analyst price target cuts