Canaccord analyst Jason Tilchen lowered the firm’s price target on Bowlero to $20 from $22 and keeps a Buy rating on the shares. The firm said they reported mixed fiscal 4Q results, with same-store sales down ~3% after a challenging April before traffic improved throughout the quarter while profitability was impacted by the decision to raise wages for center-level employees in an effort to retain talent and spur more upselling into new value-centric bundled offerings.
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Read More on BOWL:
- Bowlero price target lowered to $23 from $25 at Stifel
- Bowlero rises 13.1%
- Bowlero rises 11.0%
- Bowlero sees FY24 revenue $1.14B-$1.19B, consensus $1.14B
- Bowlero reports Q4 revenue $239.42M, consensus $241.62M
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