Bowlero price target raised to $19 from $18 at B. Riley

B. Riley analyst Eric Wold raised the firm’s price target on Bowlero to $19 from $18 and keeps a Buy rating on the shares. The company reported fiscal Q1 results that came in below expectations on a difficult comparison to the year-ago period and some promotional testing during the slower seasonal period, the analyst tells investors in a research note. However, the firm is “increasingly optimistic” about Bowlero’s outlook for baseline center revenue, saying a robust acquisition and new build pipeline is set to drive incremental growth and EBITDA expansion in the years ahead.