BMO Capital Markets says now is the time to buy Domino’s Pizza as the stock is expected to rise 35% on steady demand after underperformance. The company upgraded the stock to outperform and maintained a $430 price target, implying a nearly 35% gain from the share price currently trading. The stock is currently near a multi-year low and is down more than 43% so far. The upgrade comes in conjunction with BMO’s industry survey of over 1,000 consumers, which shows the fast food chain will have favorable risk versus reward in the future. “Consumers expect a net increase in pizza spending over the next six months and DPZ customers expect the strongest net increase in spending intent in the bracket,” wrote analyst Andrew Strelzik in a note on Friday. that time”. He added that concerns about “pizza fatigue” appear to be overblown, based on the results. Domino’s price concerns will also benefit from improving labor market conditions that could help alleviate driver shortages. “Data is starting to show that workforce expansion can help put DPZ’s delivery driver staffing challenges in the right direction,” said Mr. Strelzik. “While we find the recent changes in the dataset to be very small, it could be a precursor to a further increase in available labor to support the DPZ’s staffing recovery. if the economy continues to slow down.” To be sure, BMO’s survey results don’t detect that consumers are cutting prices, which should further support Domino’s. And, third-party delivery services remain a “potential stop” for growth. However, these concerns are evident in equities, which have fallen this year and are trading at a relative discount.