Pinstripes price target lowered to $2 from $5 at Oppenheimer

Oppenheimer analyst Brian Bittner lowered the firm’s price target on Pinstripes (PNST) to $2 from $5 and keeps an Outperform rating on the shares. The firm notes the company’s business is experiencing above-average volatility, with same-store sales declining -9.4% in Q2 2025 with down high-single trends continuing into fiscal Q3 2025. Given the challenge in predicting near-term forecasts, management decided to remove its fiscal 2025 full-year financial guidance. However, Pinstripes suggested the model is positioned to be solidly EBITDA positive in Q3 2025, says Oppenheimer.