Kura Sushi USA Inc. (KRUS) PT Lowered to $72 at Lake Street Capital Markets

Lake Street Capital Markets analyst Mark Smith lowered the price target on Kura Sushi USA Inc. (NASDAQ: KRUS) to $72.00 (from $93.00) while maintaining a Hold rating.

The analyst commented: "We like the long-term unit growth opportunity, but we think a mix of opening costs along with weak consumer spending hurt results in 3Q:F24 and will likely continue to impede results in 4Q:F24 and into F2025. We are concerned with investor sentiment with comps shifting to low-single digits in F2024 with likely negative comps in Q4. Additionally, new units do not appear to be opening at as high of volume as they historically have. We think a better consumer environment and proving out new units will help get investor sentiment back to a more positive place. We are lowering our price target to $72 from $93. We are maintaining our Hold rating based on valuation and weaker-than-expected near-term results."

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