Baird initiated coverage of Academy Sports with an Outperform rating and $80 price target. Some in the market still fear Academy is materially "over-earning," but Baird believes several structural, "self-help" improvements implemented pre-pandemic have "created a strong foundation for continued profitable growth," the analyst tells investors. Given sustainable low-double digit percentage EBIT margins and footage growth accelerating, "shares simply look too inexpensive," the firm added.
Published first on TheFly
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