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Fly News Breaks for September 11, 2019
PLAY
Sep 11, 2019 | 07:25 EDT
Wells Fargo analyst Jon Tower lowered his price target for Dave & Buster's to $40 from $46 as Q2 and Q3 to date same-store sales results did little to bolster investor confidence that a turn in the business is at hand. However, the analyst acknowledges that lost in the weaker-than-expected financial performance, 2019 guidance cut and new near-term business priorities were a couple of important long-term signals for investors worth noting, such as unit growth near the highest within the industry and the company potentially exploring new sales channels, including hosting e-sporting events as well as potentially looking into the sports betting partnerships. Tower reiterates a Market Perform rating on the shares.
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