Truist impressed by Dave & Buster’s sales and margin levers

Truist keeps a Buy rating and $63 price target on Dave & Buster’s after the company’s Investor Day presentation. The firm is “encouraged by the breadth and scale” of the company’s sales and margin levers, though it is maintaining its estimates and price target until there is greater clarity on the timing of initiatives, the analyst tells investors in a research note. Truist is also concerned with the difficult post-COVID compares due to pent-up demand as well as macro pressures, which may drive negative comps through Q4 of FY23.