Kura Sushi price target raised to $99 from $98 at Piper Sandler

Piper Sandler raised the firm’s price target on Kura Sushi (KRUS) to $99 from $98 and keeps an Overweight rating on the shares. The firm notes that it’s been a volatile 2024 thus far for Kura from a share price perspective. In addition to the choppy macro backdrop, at issue has been decelerating same-store sales trends and related questions around the variability of said trend by region, Piper says. While the stock has recovered nicely from the summer lows and last month’s primary equity raise was certainly successful, the firm believes the cannibalization issue remains front and center to the story from a “debate” perspective.