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One Group Hospitality price target lowered to $5 from $6 at Piper Sandler

Piper Sandler lowered the firm’s price target on One Group Hospitality (STKS) to $5 from $6 and keeps a Neutral rating on the shares following quarterly results. On a positive note, same-store sales were positive at the Benihana brand for the second consecutive quarter. In addition, while same-store sales at the STK brand were firmly negative, traffic was positive for the third consecutive quarter; as management continues to run activities to drive traffic during the week, at the expense of average check. Finally, from a full year 2025e guidance perspective, the total revenue and adjusted EBITDA ranges were both reaffirmed, which is a good thing in this environment, Piper adds.

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