BMO Capital lowered the firm’s price target on Dave & Buster’s to $48 from $55 and keeps an Outperform rating on the shares as part of a broader research note on Restaurants and Traffic Trends. Category trends slowed in September before recovering modestly in early October, and there is growing evidence of consumer value sensitivity, the analyst tells investors in a research note. Dave & Buster’s has demonstrated an ability to drive EBITDA in softer comp environment, but there could be a point at which it creates too big a hurdle, the firm added.
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