Stephens views the Wall Street Journal’s report of Irth Capital offering $47 per share to take Papa John’s (PZZA) private as “another chapter” in the company’s “acquisition saga.” Takeover speculation has helped support the stock over the past year, the analyst tells investors in a research note. Stephens has an Overweight rating on Papa John’s with a $47 price target The stock in afternoon trading is up 19% to $38.65.
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