BMO Capital raised the firm’s price target on Dave & Buster’s to $75 from $60 and keeps an Outperform rating on the shares. The company’s Q4 EBITDA of $152M exceeded consensus by $6M as stronger restaurant margins more than offset softer comps, the analyst tells investors in a research note. The firm adds that it is encouraged by the sales initiatives at Dave & Buster’s and believes that “self-help remains on track” to drive EBITDA upside as a bridge to a more conducive environment for the company’s discretionary business model.
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