Lucky Strike Entertainment falls after J.P.Morgan downgrade

Lucky Strike Entertainment

17/01/2025 15:05

(Updates)
    ** Shares of bowling chain operator Lucky Strike
Entertainment  LUCK.N  down as much as 8.2% at a more than
eight-month low of $9.72 in early trading
    ** J.P. Morgan downgrades stock to "neutral" from
"overweight", cuts PT by $3 to $12
    ** Says it expects Q2 sales to be 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, which was previously listed as Bowlero, 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;))