12:22 PM EDT, 04/24/2024 (MT Newswires) -- Domino's Pizza (DPZ) is expected to get additional boost from same-store sales for multiple quarters, including 2024 and beyond, Oppenheimer said in a note Wednesday.

Analysts, including Brian Bittner, said the consensus is conservative as to the company only achieving the minimum of what management expects for sales and profits in 2024. The unique same-store sales catalysts could also drive traffic versus peers.

"We elevated Domino's Pizza to a top pick in late-September, and anticipate an under-appreciated revival story to drive stock outperformance in 2024. Our analysis suggests 2024 same-store sales are armed with tangible drivers to bend the trend above consensus, enabling positive earnings revisions and multiple expansion," the analysts said.

The firm expects Q1 SSS of more than 4.6% in the US and flat internationally and an earnings per share beat of $3.52, compared with the Street's $3.40 estimate.

Oppenheimer reiterated its outperform rating and $530 price target. The company reinforced Domino's as its "top pick," after elevating to the status in September 2023.

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