Evercore ISI analyst Greg Melich lowered the firm’s price target on Academy Sports to $60 from $70 and keeps an Outperform rating on the shares. Academy’s roughly 6% comp decline in Q1 was below expectations, but ramped buyback and newness, value, and traffic initiatives “keep hope alive” that comps will turn positive by the second half, the analyst tells investors in a post-earnings note.
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