Truist lowered the firm’s price target on Academy Sports to $75 from $77 but keeps a Buy rating on the shares. The firm cites the company’s soft initial 2024 outlook amid macro headwinds facing its core customers. Beyond the near-term macro pressures however, Truist sees continued upside potential through the year, given that Academy Sports will be lapping easier comparisons, having executed very well on gross margins in a tough environment, the analyst tells investors in a research note.
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Read More on ASO:
- ASO Earnings: Academy Sports and Outdoors Slides on Q4 Miss
- Academy Sports Q4 Supplemental Presentation Released
- Academy Sports sees 2024 EPS $5.90-$6.90 vs. $6.70 last year
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- Academy Sports reports Q4 adjusted EPS $2.21, consensus $2.30