Academy Sports price target lowered to $75 from $83 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Academy Sports to $75 from $83 and keeps an Outperform rating on the shares. The company’s FY24 guidance fell short of expectations due to lower revenue contributions from new stores, a challenged consumer, and investments in the business that pressured near-term profitability, the analyst tells investors. Telsey believes the stock’s valuation remains attractive and sees potential for multiple expansion once the comp turns positive.