BUZZ-Lucky Strike Entertainment falls after J.P.Morgan downgrade

Reuters

Jan 17, 2025

** 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;))

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