Dave & Buster's Entertainment is defended by Raymond James after the biggest one-week drop in the restaurant sector

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• Raymond James is confident on Dave & Buster’s Entertainment (PLAY +3.0%) ahead of the retailer's earnings next week.
• The firm calls out an attractive entry point for investors after the Omicron-related share price drop. The firm's read on the headline numbers from the earnings report is positive.
• "Based on our read of third party data and competitor trends, we believe F3Q comps could come in approximately flat vs. 2019, resulting in 1) an unchanged F3Q revenue estimate of $312.8M (modestly below $320.7M consensus) and 2) EPS of $0.18 (above $0.14 consensus) due to our slightly higher store margin assumptions."
• PLAY has seen the biggest one-week share price drop of the 49 stocks in the restaurant sector.