Pinstripes price target lowered to $2 from $3 at BTIG

BTIG lowered the firm’s price target on Pinstripes (PNST) to $2 from $3 and keeps a Buy rating on the shares. The firm notes that the company posted another tough quarter last night as surging comps and a strong holiday season in December was not enough to offset weakness in the first two months. Challenging sales continued the trend of the past few quarters before inflecting to positive mid-single digits in December, but poor weather and consumer sentiment in January/February has reversed that progress, the analyst tells investors in a research note.