One Group Hospitality price target lowered to $5.50 from $9.50 at Lake Street

Lake Street lowered the firm’s price target on One Group Hospitality (STKS) to $5.50 from $9.50 and keeps a Buy rating on the shares after the company announced Q3 results that missed the firm’s expectations “across the board.” Management lowered 2024 guidance and new restaurant openings were lowered to six from eight to eleven, notes the firm, which notes that sales pressure and fewer restaurant openings make “a significant impact on our new 2025 estimates.”