Lake Street lowered the firm’s price target on Kura Sushi to $72 from $93 and keeps a Hold rating on the shares after the company reported preliminary third quarter results that were below the firm’s expectations and lowered its FY24 sales guidance range. The firm likes the long-term unit growth opportunity, but thinks a mix of opening costs along with weak consumer spending hurt results in Q3 and will likely continue to impede results in Q4 and into FY25, the analyst tells investors.
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- Kura Sushi price target lowered to $90 from $120 at Roth MKM
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- Kura Sushi price target lowered to $65 from $95 at Barclays
- Kura Sushi cuts FY24 revenue view to $235M-$237M from $239M-$244M
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