Piper Sandler lowered the firm’s price target on Lucky Strike (LUCK) to $9 from $10 and keeps a Neutral rating on the shares following quarterly results. The firm thought the down 0.4% same-stores sales result was quite respectable given the difficulty of the consumer traffic backdrop in the restaurant and broader “Eatertainment” sector. Building on that point, Piper notes that retail same-store sales were actually positive, but were weighted down by negative trends in the Events business.
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