Fly News Breaks for March 4, 2020
Mar 4, 2020 | 12:24 EDT
Shares of Dave & Buster's Entertainment are trading higher by 7% after KKR disclosed an increased stake of 12.7%, Raymond James analyst Brian Vaccaro tells investors in a research note. The stock is down over 30% in the past two weeks due to concerns that consumers will begin to avoid larger gathering areas given the coronavirus outbreak, adds the analyst. Vaccaro points out that his previous leveraged buyout scenario supported a takeout valuation for Dave & Buster's in the mid-$50's per share based on 2020 estimates. These estimates, however, don't reflect the potential negative impact from the coronavirus, Vaccaro adds.
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