Lucky Strike price target lowered to $16 from $18 at Canaccord

Canaccord lowered the firm’s price target on Lucky Strike (LUCK) to $16 from $18 and keeps a Buy rating on the shares as part of a Q1 earnings preview. The company has accelerated the pace of its rebranding initiative over recent months, implementing enhancements to its bowling centers as it begins another refresh cycle, the analyst tells investors in a research note. However, the firm says investors will primarily be focused on both consumer and corporate event demand trends given macro uncertainty.