Dave & Buster's Entertainment (PLAY): Channel Checks Positive - Piper Jaffray
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Piper Jaffray analyst Nicole Regan reiterated her Overweight rating on shares of Dave & Buster's (NASDAQ: PLAY) along with the price target of $51 and explained her below street SSS estimate.
The analyst stated "channel checks lead us to further conclude same-store sales are positive. However, in an effort to remain conservative, our +1.0% same-store sales projection (vs. the street at +2.1%) for the to-be-reported 2Q16 period (AMC on September 6) remains unchanged. Underlying trends remain impressive within the context of steady double-digit two-year comp trends in 1Q16 (at +13.5%) and the most difficult YoY compares (lapping a +11% from 2Q15)."
Shares of Dave & Buster's closed at $46.28 yesterday.
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