Today’s Research Reports on Stocks to Watch: Naked Brand Group and Dave & Busters
Shares of Naked Brand Group gained as much as 55% in Tuesday trading following news that the company’s shareholders have approved a merger agreement. Shares of Dave & Busters were also roaring after first quarter results beat expectations and analysts showed their excitement with price target increases as the company gears up for the launch of virtual reality game “Jurassic World” on Thursday.
RDI Initiates Coverage on:
Naked Brand Group Inc.
Dave & Buster’s Entertainment, Inc.
Naked Brand Group Inc. shares closed up 1.35% on Tuesday with a little over 11 million shares traded. The stock hit a new high of $2.33 after Wall Street learned that the company has agreed to merge with New Zealand’s Bendon Limited and Australia’s Bendon Group Holding Limited. Under the terms of the agreed merger, Bendon shareholders will exchange their outstanding ordinary shares for ordinary shares of Holdco. Naked will become a wholly owned subsidiary of Holdco and Naked shareholders will receive Holdco Ordinary shares. CEO of Naked, Carole Hochman stated, "We are very pleased with the affirmative vote at the special meeting of stockholders concerning our business combination with Bendon and we now look forward to closing this transaction."
Access RDI’s Naked Brand Group Inc. Research Report at:
Dave & Buster’s Entertainment, Inc. shares closed up 16.70% in yesterday’s trading session on about 9.3 million shares traded. The American restaurant and entertainment business reported first quarter earnings on Monday that beat expectations. Analysts are particularly excited over the company’s launch of the virtual reality game "Jurassic World" on June 14th. Analyst Lynne Collier of Canaccord Genuity reiterated a "buy" rating on the stock and raised the firms price target from $60 to $65. Analyst Sharon Zackfia of William Blair reiterated an "outperform" rating, while Andrew Strelzik of BMO Capital Markets did the same, but also raised his price target from $49 to $64. "Our plan, as we mentioned before, is to build a library of proprietary VR content that will enable us to capitalize on this opportunity for many years," said CEO Steve King. Over 100 Dave & Busters locations will have the new interactive adventure on Thursday. The film, Jurassic Park: Fallen Kingdom will hit the theaters on June 21st. This month shares of Dave & Busters have seen gains of over 35%.
Access RDI’s Dave & Buster’s Entertainment, Inc. Research Report at:
Our Actionable Research on Naked Brand Group Inc. (NASDAQ: NAKD) and Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY) can be downloaded free of charge at Research Driven Investing.
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