Pinstripes price target lowered to $3 from $4 at BTIG

BTIG lowered the firm’s price target on Pinstripes (PNST) to $3 from $4 and keeps a Buy rating on the shares. Pinstripes reported another weak quarter, capping off a difficult first half of the fiscal year, highlighted by a further weakening in sales trends to and mid-single digit venue-level margins, the analyst tells investors in a research note. The results looked a lot like last quarter in both direction and theme, though some positive signs have emerged in recent weeks to point to a stronger second half, the firm says.