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Fly News Breaks for September 11, 2019
Sep 11, 2019 | 09:01 EDT
As previously reported, Loop Capital analyst Lynne Collier downgraded Dave & Buster's to Hold from Buy and cut her price target to $40 from $55 after its "mixed" Q2 results, with a slight earnings beat and below-consensus comps. The analyst notes that the company's blended comps in July and August also continued to decelerate as performance fully lapped the benefits of the initial rollout of VR games. Collier adds that while she anticipated a soft earnings result, she "underestimated the deceleration in comps on the amusement side of the business" over the recent weeks. The analyst also cuts her FY19 and FY20 EPS view by 8c and 20c to $2.86 and $3.10 respectively, forecasting the stock to trade range bound in the near to medium term.
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