Benzinga | Dec 15, 2021 12:36PM EST

Barclays Downgrades Domino's Pizza To Underweight

* Barclays analyst Jeffrey Bernstein downgraded Domino's Pizza Inc (NYSE:DPZ) to Underweight from Equal Weight with a price target of $495, down from $500.

* Domino's has "continued to deliver best in class fundamentals," but "industry headwinds are fading, leading to an easing in Domino's tailwinds," Bernstein told investors.

* The analyst believes the stock's valuation is "fully loaded" at current levels.

* Remarking on U.S. restaurants, Barclays expects more tailwinds than headwinds in 2022.

* Price Action: DPZ shares are trading lower by 0.54% at $520.35 on the last check Wednesday.