Raymond James downgraded Dave & Buster’s to Outperform from Strong Buy with a price target of $55, down from $60. The firm also removed the stock from its Current Favorites list. The company’s Q2 results reflected weaker than expected comparable sales at Dave & Buster’s branded stores, the analyst tells investors in a research note. The firm says tougher compares in the second half of 2023 may result in high single digit comparable sales declines at the branded stores. However, it continues to see a positive risk/reward skew for patient investors.
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- Dave & Buster’s price target lowered to $43 from $50 at UBS
- Dave & Buster’s downgraded to Outperform from Strong Buy at Raymond James
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