RCI Hospitality price target lowered to $126 from $140 at H.C. Wainwright

H.C. Wainwright analyst Scott Buck lowered the firm’s price target on RCI Hospitality to $126 from $140 and keeps a Buy rating on the shares. Macroeconomic uncertainty weighs on the company’s fiscal Q3 sales data, but new project contribution should boost its Q4, the analyst tells investors in a research note. As the company continues to execute on its capital allocation strategy, meaningfully growing free cash flow per share, more investors should begin to gravitate towards the stock, says the firm.