Bowlero rises after Truist Securities initiates coverage with 'buy'

** Bowling center operator Bowlero's (BOWL.N) shares up ~6% at $12.42

** Truist Securities initiates coverage with "buy" rating and PT of $16

** Bowlero's differentiated offering of bowling centers and its scale represent key competitive advantages, brokerage says

** Adds BOWL is not only dominant operator of U.S. bowling centers, but also in out-of-home entertainment sector that includes theaters and theme parks

** Brokerage says BOWL's considerable resources, investment capacity and consumer reach are difficult for competitors to match

** Including session's moves, BOWL stock has fallen 12% YTD