2023-03-28 08:24:34 ET
Bowlero Corp. ( NYSE: BOWL ) jumped in early trading on Tuesday after Stifel boosted its rating on the entertainment stock to Buy from Neutral and assigned a Street-high price target of $26.
The company is noted to be on a successful acquisition track of rolling up bowling centers and achieving conversion and cost synergies in a capital light manner.
“BOWL sits at the beginning of a compelling growth story with a dominant position in a fragmented market, a rich opportunity set of assets to roll-up, a successful acquisition and margin expansion blueprint, and powerful secular tailwinds," updated analyst Steven Wieczynski writes
The price target from Stifel reps more than 70% upside for shares. The bowling center stock jumped 3.75% in premarket trading on Tuesday to $15.77.
The Seeking Alpha Quant Rating on Bowlero ( BOWL ) has been flashing Strong Buy or Buy since March 6. See all the growth metrics on Bowlero.
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Bowlero rallies after Stifel turns bullish and points to +70% upside