Truist analyst Jake Bartlett raised the firm’s price target on Dave & Buster’s to $29 from $22 but keeps a Hold rating on the shares after its Q1 results. The company’s comps and adjusted EBITDA missed consensus estimates, but its commentary suggests significantly improved recent SSS trends as its interim CEO has implemented a ‘back to basics’ strategy of refocusing on new amusement games and switching back to TV advertising, the analyst tells investors in a research note. The firm says it would remain on the sidelines however given Dave & Buster’s history of market share loss.
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