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Wall Street Bullish on Dave & Buster’s before Fiscal Q2 Results

Victoria Dean - Author

Aug. 18 2020, Updated 5:19 a.m. ET

Target price revisions

Dave & Buster’s Entertainment (PLAY) is expected to report its fiscal second quarter of 2018 results[1. Its fiscal second quarter ended on August 5, 2018.] on September 14.

As of September 5, 100% of the analysts covering PLAY stock rated it a “buy.” Over the past 30 days, we saw three price revision changes for Dave & Buster’s. On August 27, Jefferies upped its price target to $66 from $63. On August 24, Raymond James increased its price target to $65 from $60. Suntrust Robinson revised its price target to $63 from $62 on August 14.

Dave & Buster’s mean target price is $64.56, which indicates a ~12% upside to the stock price as of September 5.

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Analysts remain upbeat about the upcoming results. The consensus estimates for the top- and bottom-line growth in the second quarter are 12.3% and 13.6%, respectively. New store openings are benefiting its top-line growth. For the second quarter, it projected five new store openings. It’s also adding new games with a special emphasis on VR (virtual reality) games to its games portfolio to attract more customers. The company is also improving its menu and working on offering speedier service to its patrons.

Wall Street’s stance on its peers

For Darden Restaurants (DRI), ~54% of the 26 analysts covering the stock recommended a “buy” rating, while the rest rated it a “hold.” Darden’s mean target price is $115.40, which indicates a 2.9% downside to the stock as of September 5.

For Shake Shack (SHAK), 27% of the 11 analysts covering the stock have recommended a “buy” rating, while 46% have rated it a “hold.” Shake Shack’s mean target price is $54.22, which indicates a 7.8% downside to the stock price.

Of the 27 analysts covering Dunkin’ Brands (DNKN), ~30% have given the stock a “buy” rating, and 59% have rated it a “hold.” Currently, analysts’ target price for Dunkin’ Brands is $69.83, reflecting a 7.5% downside to the price of the stock.

For Jack in the Box (JACK), 47% of the 17 analysts covering the stock have recommended a “buy,” while 53% have rated it a “hold.” Jack in the Box’s target price is $99.86, implying a 14.1% upside to the stock price.


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