Lucky Strike Entertainment (LUCK – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Steven Wieczynski from Stifel Nicolaus maintained a Buy rating on the stock and has a $12.00 price target.
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Steven Wieczynski’s rating is based on a combination of factors that suggest potential growth for Lucky Strike Entertainment despite current challenges. The company has faced difficulties, particularly in its events business, but Wieczynski believes these issues are nearing a resolution. He highlights that the events segment is close to bottoming out, and improvements in areas such as the season pass program, targeted marketing, and pricing strategies could serve as catalysts for positive change.
Furthermore, Wieczynski notes that the majority of Lucky Strike’s revenue comes from its retail and leagues segments, which are showing healthy growth. He acknowledges the current macroeconomic uncertainties and their impact on consumer spending, but he sees the potential for the company to reach an inflection point sooner than expected. With strategic changes in sales and marketing, along with a focus on high-touch, in-person selling, Wieczynski anticipates that Lucky Strike could achieve positive same-store sales growth in the near future, justifying his Buy rating.