Lucky Strike price target lowered to $16.50 from $18 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Lucky Strike (LUCK) to $16.50 from $18 and keeps a Buy rating on the shares. The firm notes Lucky Strike delivered Q2 misses on sales and Adjusted EBITDA, with same-store sales down 6%. However, Craig-Hallum believes the Street largely anticipated the miss given pullbacks in entertainment venue spend for both households and corporate events.