Kura Sushi price target lowered to $68 from $79 at Citi

Citi lowered the firm’s price target on Kura Sushi to $68 from $79 and keeps a Neutral rating on the shares following the fiscal Q3 report. The earnings all did not do much to reassure investors that a turnaround is on the horizon, the analyst tells investors in a research note. The firm heard “some common growth restaurant red flags,” including concerns about cannibalization despite Kura’s small store base. Management remains focused on the long-term opportunity, including pointing to another year of 20%-plus unit growth in 2025, though ongoing comp weakness may put that into question for investors and likely keeps many on the sideline in the near-term, contends Citi.