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Investing.com - Papa John’s International Inc (NASDAQ:PZZA) stock rose after Reuters reported that Apollo Capital Management has submitted a fresh bid to take the pizza chain private. The stock has already gained 63% over the past six months, with a particularly strong 12.6% surge in the past week. According to InvestingPro, the company maintains a GOOD financial health score and has consistently paid dividends for 13 consecutive years.
According to the Reuters report published Tuesday evening, Apollo offered $64 per share for Papa John’s, citing people familiar with the matter. This report echoed a similar story published by StreetInsider on Monday. The offer price represents a premium to current analyst targets, which range from $42 to $67 per share for the $1.76 billion market cap company.
Benchmark maintained its Buy rating on Papa John’s with a $60.00 price target. The firm acknowledged the takeover reports but stated it has "no knowledge of the accuracy of the recent reporting regarding interest from Apollo."
Takeover speculation has surrounded Papa John’s since June, when initial reports emerged about private equity interest from both Apollo and Irth Capital. Earlier reports from February had first mentioned potential interest from Irth Capital.
Benchmark analysts noted they "wanted to explore what a potential take private transaction might mean for Papa John’s as a brand," though they provided no specific conclusions about the potential impact of such a deal.
In other recent news, Papa John’s reported strong second-quarter 2025 results, surpassing analysts’ expectations. The company achieved an earnings per share of $0.41, beating the anticipated $0.35, marking a 17.14% surprise. Revenue reached $529 million, exceeding the consensus estimate of $516 million. North American same-store sales grew by 1%, surpassing expectations by 150 basis points, while international sales outperformed with a 3.7% increase against a 1.3% forecast. Following these results, Benchmark raised its price target for Papa John’s to $60, maintaining a Buy rating. Jefferies also increased its price target to $45, while keeping a Hold rating. KeyBanc reiterated its Sector Weight rating, noting strong same-store sales growth but cautioning on softening domestic sales trends at the start of the third quarter. These developments reflect positive sentiment among analysts regarding Papa John’s recent financial performance.
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