Bowlero rises after Truist Securities initiates coverage with 'buy'

Lucky Strike Entertainment

10/12/2024 19:37

** Bowling center operator Bowlero's  BOWL.N  shares up ~6%
at $12.42 
    ** Truist Securities initiates coverage with "buy" rating
and PT of $16
    ** Bowlero's differentiated offering of bowling centers and
its scale represent key competitive advantages, brokerage says 
    ** Adds BOWL is not only dominant operator of U.S. bowling
centers, but also in out-of-home entertainment sector that
includes theaters and theme parks
    ** Brokerage says BOWL's considerable resources, investment
capacity and consumer reach are difficult for competitors to
match
    ** Including session's moves, BOWL stock has fallen 12% YTD

 (Reporting by Aamir Sohail in Bengaluru)
 ((Aamir.Sohail@thomsonreuters.com;))