Bowlero price target raised to $17 from $14 at Roth MKM

Roth MKM analyst Eric Handler raised the firm’s price target on Bowlero to $17 from $14 and keeps a Buy rating on the shares after its higher than expected Q2 revenue. The company continues to seek out efficiencies in the model while increasing its investment spending initiatives on recently acquired centers and remodels, the analyst tells investors in a research note. The firm adds that Bowlero saw strong initial performances for the 14 acquired Lucky Strike centers, and its attractive growth opportunities are pushing forward planned investment spending.