Truist Securities analyst Jake Bartlett raised the price target on Dave & Buster's (NASDAQ: PLAY) to $56.00 (from $54.00) after reporting revenue of $377.6M ahead of consensus of
$358.5M and guidance $335-$350M. Upside was driven by SSS of +3.6%, above consensus of -8.2%.

The analyst reiterated a Buy rating, stating "PLAY's strong 2Q21 results (EBITDA and SSS beat) support our bullish view of the shares (upgraded to BUY on 8/26/21) and we are increasing our PT to $56. PLAY's strong 2Q21 sales demonstrate strong demand and its improved marketing approach, and its strong margins demonstrate its structural cost advantages and new efficiencies. While SSS decelerated QTD, they remain positive (+1.3% vs. '19) despite the recent COVID spike (now slightly declining), and PLAY has multiple sales drivers ahead. PLAY expects unit growth to accelerate in '22 but appears disciplined and
focused on FCF generation".