0858 ET - Bowlero delivered another quarter of solid results and a number of factors including shares near all-time lows skew its risk/reward profile to the upside, say analysts at Jefferies in a research note. The bowling center operator raised the low end of its full-year revenue outlook and posted higher-than-expected earnings in F1Q. The analysts say they like Bowlero's strong and stable fundamentals in the quarter, as well as enhanced shareholder value by buying back shares. "With shares near the lowest valuation in their trading history, combined with a favorable M&A backdrop and solid, stable fundamentals, we believe BOWL shares will continue to trade higher (much higher, at that) over the coming year," they add. Bowlero surges 14% premarket.(denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
November 05, 2024 08:58 ET (13:58 GMT)
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