Bowlero price target lowered to $19 from $21 at Stifel

Stifel lowered the firm’s price target on Bowlero to $19 from $21 and keeps a Buy rating on the shares after having recently hosted an investor field trip with senior management and touring three of their properties across South Florida. The firm, which still believes Bowlero will end up within their FY24 EBITDA guidance, but well on the low-end now, notes that its FY25 and FY26 EBITDA estimates are “essentially unchanged.”