Dave & Buster’s Beats Street, Raises Profit Guidance

Shares of Dave & Buster's (PLAY) - Get Report surged on Wednesday after reporting better-than-expected quarterly results and raising its full-year guidance. The entertainment company posted first-quarter earnings of $0.72 a share, that was $0.13 a share better than expected. Dave & Buster's also raised its full-year profit guidance to between $1.86 and $1.97, which is up from $1.71 to $1.84. The company also announced a $100 million share repurchase program. Analysts at BMO Capital Markets said in a research note Wednesday that they believe the stock remains undervalued and reiterated its OUTPERFORM rating on the stock and raised its price target to $51 a share to reflect the company's strong business momentum.

This article was written by a staff member of TheStreet.