Dave & Buster's (PLAY) PT Lowered to $69 at Piper Jaffray; Reiterates Overweight

Piper Jaffray lowered its price target on Dave & Buster's (NASDAQ: PLAY) to $69.00 (from $74.00) while maintaining a Overweight rating ahead of the company's 2Q. Based on the continuation of volatile industry trends, more appropriately adjusting for difficult compares and taking one-time events and checks into account, Piper Jaffray lowered 3Q17 top- and bottom-line expectations.

FY17 earnings estimates remain within the confines of guidance, and FY18 estimates are largely unchanged.

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