Academy Sports price target lowered to $65 from $75 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Academy Sports to $65 from $75 and keeps an Outperform rating on the shares. The firm was “disappointed” with the company’s Q1 results, which fell below estimates and the guidance range for the year, the analyst tells investors. The sequential improvement in the sales trend was encouraging, but, with Q1 results “well short” of projections and the low-to-mid income consumer likely to remain challenged throughout the year, the firm is taking a more cautious approach on the stock.