BUZZ-Citi lowers PT for Australian Domino's operator as KFC struggles in Europe

Yum! Brands, Inc.
Domino's Pizza, Inc.

Yum! Brands, Inc.

YUM

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Domino's Pizza, Inc.

DPZ

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** Citi lowers price target for Domino's Pizza Enterprises DMP.AX by 3% to A$16.90, maintains "neutral" rating

** KFC operator Collins Foods CKF.AX on Tuesday posted a decline in same-store sales in European markets

** Following CKF's results, Citi cuts earnings forecasts from FY26 to FY28 for DMP, which also owns the master franchise for Domino's in some European markets

** However, brokerage says new group CEO, Joe Jordan, "appears to have a strong pedigree' although more conviction around turnaround duration needed

** 15 analysts "hold" rated on avg, with median PT A$18.00 - LSEG-compiled data

** YTD, shares down 25.6%, last closed at A$16.45


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