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Investing.com — Dave & Buster’s jumped 13% on Friday, recovering some of the previous day’s losses after getting two analyst upgrades.
Shares had dropped some 26% after The Wall Street Journal published an article citing an old regulatory filing by the company that raised the risk of going bankrupt.
Raymond James and Stifel both upgraded the stock to a buy-equivalent from a hold-equivalent, according to Seeking Alpha. Both analysts set a $20 price target. They are currently trading around $15.81.
Thursday’s share drop was “overdone,” Brian Vaccaro of Raymond James said. Sales are recovering and the company has about $190 million in the bank after a couple of capital raises.
The news published by The Wall Street Journal is “verbatim from the language” in a previous quarterly filing that never raised any eyebrows, Seeking Alpha reported Stifel’s Chris O’Cull as saying.
