Lucky Strike downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Matthew Boss downgraded Lucky Strike (LUCK) to Underweight from Neutral with a price target of $6, down from $8. The firm cut its fiscal Q3 same-store-sales estimates to below consensus, saying its work points to a sequential moderation over the course of the quarter. Lucky Strike’s March comps softened to negative low-single-digit declines, the analyst tells investors in a research note. The firm believes the company is seeing traffic headwinds tied to consumer behavior shifting more cautious as a result of higher gas prices.