Kura Sushi price target lowered to $100 from $115 at Benchmark

Benchmark lowered the firm’s price target on Kura Sushi (KRUS) to $100 from $115 and keeps a Buy rating on the shares. Kura remains “a Top Pick in the restaurant sector at Benchmark,” but was not immune to the downshift in consumer demand trends that were seen in February, says the analyst, who is lowering the firm’s fiscal Q2 same-store sales growth assumption to a 4% decline from a prior call for a 2% decline. The firm is lowering its price target to reflect the compression seen in the multiples being afforded high-growth restaurant concepts in the current market environment, the analyst noted.