Deutsche Bank upgraded Dave & Buster’s Entertainment to Buy from Hold, citing amid expectations for more stock upside. Dave & Buster’s is scheduled to report 2Q results on Sept. 10.
Brian Mullan maintained a price target of $28 on the restaurant chain’s stock implying 48.5% upside potential over the coming year. Mullan believes that achieving weekly same-store sales results that equate to neutral to positive cash flow generation at the open stores should be the next goal of the company over the near term.” data-reactid=”13″>Deutsche Bank analyst Brian Mullan maintained a price target of $28 on the restaurant chain’s stock implying 48.5% upside potential over the coming year. Mullan believes that achieving weekly same-store sales results that equate to neutral to positive cash flow generation at the open stores should be the next goal of the company over the near term.
PLAY) shares plunged 53.1% on a year-to-date basis as the restaurant chain grappled with lockdown mandates, store closures and other disruptions amid the coronavirus pandemic. In 1Q, total revenues declined 56% year-over-year due to a 58.6% decline in same-store sales. Adjusted EBITDA also fell 6.7% year-over-year.” data-reactid=”14″>Dave & Buster’s (PLAY) shares plunged 53.1% on a year-to-date basis as the restaurant chain grappled with lockdown mandates, store closures and other disruptions amid the coronavirus pandemic. In 1Q, total revenues declined 56% year-over-year due to a 58.6% decline in same-store sales. Adjusted EBITDA also fell 6.7% year-over-year.
See PLAY stock analysis on TipRanks).” data-reactid=”19″>During the 1Q earnings call, management expected “having about 90 to 95 stores opened by the end of July and all stores opened by September, barring any delays due to COVID-19 resurgence or changes in state or local guidelines.” According to a Bloomberg report, the company might miss analysts’ estimates for 2Q due to a slower pace of recovery in store reopenings. (See PLAY stock analysis on TipRanks).
price target of $17.71 implies downside potential of 6.1% to current levels.” data-reactid=”20″>Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 2 Buys and 5 Holds. The average price target of $17.71 implies downside potential of 6.1% to current levels.
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