Dennis Geiger, an analyst from UBS, maintained the Hold rating on Dave & Busters Entertainment. The associated price target remains the same with $29.00.
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Dennis Geiger has given his Hold rating due to a combination of factors surrounding Dave & Buster’s Entertainment. The company is in the early stages of a turnaround, with a new CEO, Tarun Lal, bringing fresh insights and strategies to improve performance. While there is optimism about the ‘back to basics’ strategy and potential improvements in sales and earnings, the macroeconomic environment remains challenging, and consumer spending is still under pressure.
Geiger anticipates sequential improvements in same-store sales, particularly with initiatives like the Eat & Play Combo and the Summer Pass program. However, despite these positive signs, the visibility remains limited, and the company needs to demonstrate consistent positive sales trends to unlock potential upside. The focus on cost management, store remodels, and new game launches are expected to support this trajectory, but the overall uncertainty in the market leads to a cautious Hold rating.