Lucky Strike Entertainment falls after J.P.Morgan downgrade

Lucky Strike Entertainment

17/01/2025 11:32

** Shares of bowling chain operator Lucky Strike
Entertainment  LUCK.N  down 4.2% at $10.15 premarket
    ** Brokerage J.P.Morgan downgrades stock to "neutral" from
"overweight", cuts PT by $3 to $12
    ** Sees Q2 sales affected by softer event revenue, reduced
retail walk-ins and an unfavorable calendar shift as New Year
moves into next quarter, aside from impacts from price increases
    ** Says profits are hurt by recurring expenses from recent
acquisitions of Raging Waves water park and Boomers Parks chain
of family entertainment centers
    ** Co was previously listed as Bowlero, which rebranded
itself as Lucky Strike Entertainment in December, and is set to
announce Q2 results on Feb. 3
    ** 9 of 11 brokerages rate the stock "buy" or higher, and
two "hold"; with a median PT of $17- LSEG data
    ** LUCK fell 29.3% in 2024

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))