BMO Capital Reiterates Outperform Rating on Dave & Buster's (PLAY)
BMO Capital analyst Andrew Strelzik reiterated an Outperform rating and $55.00 price target on Dave & Buster's (NASDAQ: PLAY).
The analyst comments "FY2Q24 EBITDA of $152 million exceeded consensus by $11 million as stronger restaurant margins and lower G&A more than offset softer comps. This marks a return to supporting EBITDA upside despite top-line pressures following last quarter's missteps. While we adjust estimates for a softer top-line and temper our target to $55, results bolster our confidence that PLAY could navigate a challenging environment with cost savings as a bridge to more conducive top-line environment in which its strategic initiatives could better perform. Shares remain inexpensive, trading at ~4.5x our FY25 EBITDA."
For an analyst ratings summary and ratings history on Dave & Buster's click here. For more ratings news on Dave & Buster's click here.
Shares of Dave & Buster's closed at $29.86 yesterday.