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Fly News Breaks for December 11, 2019
Dec 11, 2019 | 08:03 EDT
BMO Capital analyst Andrew Strelzik raised his price target on Dave & Buster's to $53 and kept his Outperform rating after its Q3 earnings, noting that while the results were in line and the company remains several quarters away from "seeing evidence of a turnaround", he remains positive on its comp recovery potential. The analyst cites the management's continued efforts to implement sales drivers such as "live activities around key sporting events, new multiplayer games, and improved mobile app/loyalty platforms." Strelzik adds that Dave & Buster's stock continues to trade below its "longer term value", and he sees its risk-reward favoring the upside.
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