Truist lowered the firm’s price target on Academy Sports to $73 from $75 and keeps a Buy rating on the shares. Truist Card Data suggests that the company’s quarter-to-date trends have been “subdued”, and the firm is not seeing acceleration in sales anticipated this quarter, the analyst tells investors in a research note. The firm maintains however that after significant declines over the past 2 years, it expects the outlook to improve against easier comparisons and also views Academy’s key investment initiatives around new stores, customer data, supply chain infrastructure as “durable growth drivers”.
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