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published in Blogs
Aug 28, 2021
Dave & Buster's (PLAY, $38.28) get rating upgrade at Truist

Dave & Buster's (PLAY, $38.28) get rating upgrade at Truist

Shares of Dave & Buster's Entertainment  were rising Friday, after a rating boost at Truist.

Analysts at Truist upgraded the entertainment stock to buy from hold.

According to analyst Jake Bartlett, while the company is still in recovery mode, it will be able to weather potential headwinds. Bartlett sees Dave & Buster's as “relatively well positioned” to manage cost pressures including labor, due to new operating efficiencies and previously announced hiring initiatives, due to its low costs as a percentage of total sales.

Earlier this year, the company’s shares got a price target hike to $53 from $46 a share from analysts at Truist, as first-quarter results and current trends reflected "rapid sales recovery" , according to the analysts.

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