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.
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