Gen Restaurant Group price target lowered to $10 from $11 at Roth MKM

Roth MKM lowered the firm’s price target on Gen Restaurant Group to $10 from $11 and keeps a Buy rating on the shares. The company has hit some speed bumps in its first year public with weaker comps, development obstacles, and a more difficult than expected corporate integration, the analyst tells investors in a research note. Roth MKM adds that while it still believes in Gen Restaurant’s long-term unit potential and strong unit economics, the firm sees the stock remaining “range-bound” until the company rebuilds Street confidence and executes to its FY24 plan.