Academy Sports initiated with an Outperform at Telsey Advisory

Telsey Advisory initiated coverage of Academy Sports with an Outperform rating and $72 price target. The analyst views Academy Sports as a unit and sales growth story driven by market share gains as the company expands in existing markets and enters new markets with a better assortment, customer service, and go-to-market strategy. The hunting and outdoor categories that have declined the most are nearing normalization, the analyst tells investors in a research note.