Loop Capital lowered the firm’s price target on Dave & Buster’s to $59 from $63 and keeps a Buy rating on the shares. The company reported a “solid” Q2 earnings beat but a miss on comps, and the firm is adjusting its model to forecast a 5% SSS decline in Q3 vs. a forecast of flat comps previously, the analyst tells investors in a research note. Loop Capital is also reducing its Q3 EBITDA outlook to $81M from $88M.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLAY:
- Trump Media slips after presidential debate: Morning Buzz
- Dave & Buster’s valuation ‘appears washed out,’ says Jefferies
- Morning Movers: Designer Brands sinks following quarterly results
- Dave & Buster’s price target lowered to $55 from $65 at BMO Capital
- PLAY Earnings: Dave & Buster’s Stock Surges as Profit Beats Forecast