Dave & Buster’s downgraded to Hold from Buy at Gordon Haskett

Gordon Haskett downgraded Dave & Buster’s to Hold from Buy with a price target of $34, down from $40. Dave & Buster’s reported its third consecutive same-store sales shortfall, and while the firm believes that both technology and store remodels will offer SSS tailwinds in coming years, over the next several quarters, the firm sees continued low-income consumer headwinds pressuring Dave & Buster’s SSS and traffic and additional downward revision to EPS and EBITDA, the analyst tells investors in a research note.