Information Provided By:
Fly News Breaks for April 3, 2019
PLAY
Apr 3, 2019 | 08:12 EDT
Maxim analyst Stephen Anderson raised his price target on Dave & Buster's to $67 and kept his Buy rating after its "triple-beat" Q4 results. The analyst notes that the quarter saw strong sales in the company's Amusements business as well as positive comps in its Food & Beverage business "for the first time in two years". While Anderson is lowering his Q1 earnings forecast by 1c to $1.15 to reflect Dave & Buster's higher costs associated with more aggressive unit openings, he also raises his FY19 earnings outlook to $3.25 from $3.15 after its announcement of an expanded $200M buyback program.