TD Cowen analyst John Kernan lowered the firm’s price target on Academy Sports to $57 from $64 and keeps an Outperform rating on the shares. The firm said Academy Sports has manged through 2023 as management changes a weak macro for its lower to middle income consumers and a cyclical slowdown in the outdoor category. Shares look cheap on Free Cash Flow basis if working capital normalizes.
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- Academy Sports and Outdoors call volume above normal and directionally bullish
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