Dave & Buster's Entertainment (PLAY) stock is soaring 17.10% in intraday trading, following the company's better-than-expected fiscal Q1 revenue report and a series of analyst upgrades. The entertainment and dining company's shares are reacting positively to the financial results and the more optimistic outlook from Wall Street analysts.
The company's fiscal Q1 revenue surpassed expectations, though specific figures were not provided in the available news. This strong performance has prompted several analysts to revise their outlook on Dave & Buster's. UBS raised its price target significantly from $18 to $29, while maintaining a Neutral rating. Truist Securities also increased its target price from $22 to $29, keeping a Hold rating. BMO made the most bullish move, lifting its target price to $35 from $30.
The average analyst rating for Dave & Buster's is currently "overweight," with a mean price target of $33, according to FactSet. This consensus view suggests that Wall Street generally sees potential upside for the stock, which is likely contributing to today's rally. Investors appear to be responding positively to the combination of strong Q1 results, raised analyst targets, and the overall bullish sentiment, driving the stock's significant gains during the trading session.
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