Piper Sandler last night downgraded Dave & Buster’s to Neutral from Overweight with a price target of $71, up from $50, post the Q4 report. The new price target implies only 4% upside, which leads to a more balanced risk/reward at current share levels, the analyst tells investors in a research note. The firm thinks Dave & Buster’s strategic growth initiatives have been priced into the stock.
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