Evercore ISI raised the firm’s price target on Academy Sports to $65 from $60 and keeps an Outperform rating on the shares. Academy’s Q2 comp decline of 7% was below expectations, but comps turned positive in August, which keeps “hope alive that 2H comps can improve 300bps+,” the analyst tells investors. FY24 EPS guidance was lowered to $5.83 at the midpoint, or about 6% below the street at $6.24, notes the analyst, whose base case target of $65 reflects a roughly 9-times multiple to the firm’s FY25 EPS estimate of $7.10.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASO:
- Academy Sports price target lowered to $64 from $68 at Jefferies
- Academy Sports price target raised to $63 from $60 at Truist
- Academy Sports price target raised to $56 from $54 at TD Cowen
- Academy Sports price target raised to $51 from $46 at Wells Fargo
- Oracle reports Q1 beat, EU says Apple must pay: Morning Buzz