One Group Hospitality price target lowered to $12 from $15 at Stephens

Stephens lowered the firm’s price target on One Group Hospitality to $12 from $15 and keeps an Overweight rating on the shares after the company reported Q4 results that included same-store sales trends that were "strong" on a three-year stack basis, but softer-than-expected on a year-over-year basis. The firm is "encouraged" by top-line guidance, the company’s line of sight into commodities for FY23 and the company’s commitment to opportunistically returning capital to shareholders, said its adjusted price target reflects a lower EBITDA base given an adjusted revenue and expense outlook.