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PLAY - Dave & Buster's Entertainment For Upside: Calling Foul On WSJ Article
Dave & Buster's Entertainment Inc.
Action: Buy here with a long-term PT of ~$28/sh for roughly 100% upside from 9/17/2020 closing price.
Investment thesis:
Dave & Buster's (PLAY) dropped around 26% on 9/17. The sudden drop in price should not necessarily be viewed as an increase in risk. In fact, after examining the most reasonable causes for the drop, the reaction appears to be unfounded and the resulting price more likely reduced risk, rather than increased risk, in a potential investment here.
Using conservatives estimates of growth and recovery, a reasonable price target for PLAY is around $28/share or nearly