Here’s why Jim Cramer thinks shares of Domino's Pizza have more room to run
TD Cowen upgraded the company's stock and boosted its price target.
Troov
Domino's Pizza (DPZ) edged higher Tuesday after TD Cowen upgraded the company's stock to outperform from market perform (buy from hold). The analysts at the firm boosted their price target to $450 share from $420.
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CNBC's Jim Cramer agrees that shares have more room to run, citing strong management under CEO Russell Weiner and a recent big-name partnership. The pizza chain announced a deal with Uber Eats earlier this year to include food orders on the app in a bid to boost U.S. same-store sales.
The "Mad Money" host described Domino's as a company that "people gave up on," but has strong potential. The stock is down nearly 2% over the past month but still up almost 13% year to date.
Domino's is in the S&P 500 consumer discretionary sector. The CNBC Investing Club does not own DPZ but does own fellow consumer discretionary member Starbucks (SBUX).
Here's a full list of the stocks in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.
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