Dave & Buster's (PLAY) Stock Price Target Increased at Jefferies

NEW YORK (TheStreet) -- Dave & Buster's Entertainment (PLAY) stock had its price target raised to $41 from $39 by analysts at Jefferies who maintained their "buy" rating.

Shares are gaining by 1.8% to $33.85 in Tuesday's morning trading session.

Yesterday, the company reported first quarter revenue of $222.7 million, up 14.3% from $194.8 million from the same quarter last year.

The restaurant and arcade chain said its non-GAAP adjusted earnings were 46 cents per diluted share, compared to the 33 cents per diluted share it reported in the same quarter last year. Dave & Busters was expected to post earnings of 37 cents per share for the latest quarter, according to analysts polled by Thomson Reuters.

Strong first quarter results "show power of PLAY brand in terms of same-store sales and flow-through to margins" Jefferies analysts said.

Additionally, the second quarter is off to a good start with the next version of "Summer of Games, including Jurassic Park and Goldfishing games with the first arcade version of Angry Birds to come later in summer, according to the analyst note.

PLAY Chart PLAY data by YCharts

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