Truist analyst Jake Bartlett lowered the firm’s price target on Dave & Buster’s to $27 from $36 and keeps a Hold rating on the shares as part of a broader research note offering the firm’s takeaways from the 2025 ICR Conference discussions. Restaurant and foodservice distributor management teams were cautiously optimistic about demand trends in FY25 and see no red flags on operating costs, the analyst tells investors in a research note. The company’s turnaround plan appears intact but there appears to be an additional focus on better daypart utilization and operations, but there was no update on marketing efforts to bring greater awareness to recently remodeled stores, the firm added. Truist further notes that it does not believe that Dave & Buster’s has launched the 15 targeted remodels in Q4 yet, suggesting some risk to the 44 remodel target for FY24.
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