Bowlero's (BOWL) fiscal 2025 is expected to be active for mergers and acquisitions with the company forecast to report in-line Q4 results, Oppenheimer said Tuesday in a report.

M&A "could be significant" in the fiscal year, exceeding $100 million amid "an improved deal environment" with potential acquisitions that may include additional waterparks and family entertainment centers, Oppenheimer said.

The owner and operator of bowling entertainment centers is likely to deliver a 13% increase in Q4 revenue to $271 million from a year earlier and 36% growth in EBITDA to $88 million given healthy retail traffic, online bookings and events, Oppenheimer said.

Bowlero is scheduled to release quarterly results on Thursday.

Management is expected to issue guidance calling for same-store revenue growth in the low- to mid-single digit percentage range," the report said.

Oppenheimer has an outperform rating on the stock and a $15 price target.

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