Truist initiated coverage of Academy Sports with a Buy rating and $57 price target. The company is a “favorite sporting goods retailer for the middle-class” and has meaningfully transformed its shopping experience and operations over the past four years, the analyst tells investors in a research note. Academy’s industry-leading unit economics and robust expansion opportunities also underpin the firm’s forecasted high-single-digit revenue CAGR through FY25, the firm added.
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