Analysts at Citi have raised their price target on Domino’s Pizza Enterprises (ASX:DMP) to A$57.95, up from A$53.70.

According to the financial institution, the pizza chain’s new high margin product strategies and promotions have been more successful than previously anticipated, leading to an upgrade of their position to ‘neutral.’ The bank believes that strategic menu innovation, coupled with an imminent partnership with Uber Eats in Australia, may bolster order frequency and enhance earnings.

Domino’s stated earlier in the week it anticipates its restructuring initiatives will yield network savings of A$80 million to A$94 million in FY25.

Of 14 analysts, five rate the stock as a ‘buy,’ five hold, and four recommend ‘sell’ or lower.

The median price target is A$53.70, according to Refinitiv data.

The stock has seen a decrease of 18.9% this year, as of the last close.

Domino’s Pizza Enterprises (ASX:DMP) is a multinational pizza delivery and carryout company.