BUZZ-Domino's Pizza: 5-star Credit Suisse analyst initiates with "neutral"
** Lead Credit Suisse analyst Jason West says Domino's Pizza still best-in-class, but competition is on the rise
** DPZ continues to be one of best growth stories in all of consumer; however, with restaurant delivery undergoing "dramatic" change prefers better entry point on stock, West writes in note
** Starts DPZ with "neutral" and $200 PT, inline with current level
** Says impact of delivery competitors on DPZ focuses on 3 key players: 1) McDonald's; 2) aggregators such as GrubHub , Uber, Amazon.com (NasdaqGS: AMZN - news) ; 3) Pizza Hut
** Calculates "relatively manageable" (approx 100-200 bps) combined same-store-sales risk from these competitors in coming qtr, though believes DPZ has "limited room for error at the current valuation"
** Says DPZ could benefit from USD weakness, which would boost international results, and tax reform; cites slowing of intl unit growth, particularly in UK market, as potential downside risk
** West awarded 5 out of possible 5 stars by Thomson Reuters (Dusseldorf: TOC.DU - news) StarMine for his overall restaurant industry recommendations
** DPZ shares tumbled 10 pct on Jul 25 when co reported Q2 international sales miss
** Meanwhile, short sellers taking bite out of UK franchise Domino's Pizza Group
** 7 of 20 analysts rate DPZ "buy" or higher, rest "hold"; median PT $215
** DPZ off 0.7 pct to $201.29 on Weds. Stock still up 26 pct YTD
** Domino's scheduled to report Q3 results Oct (Shenzhen: 000069.SZ - news) 12