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Dave & Buster’s price target lowered to $30 from $47 at BMO Capital

BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Dave & Buster’s to $30 from $47 and keeps an Outperform rating on the shares. The company’s Q4 EBITDA of $127M was $2M below consensus as lower G&A and favorable store-level cost management mitigated same-store sales shortfall, the analyst tells investors in a research note. Dave & Buster’s expects further improvement, but the macro backdrop limits BMO’s confidence, the firm added.

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