Guggenheim analyst John Heinbockel raised the firm’s price target on Academy Sports to $70 from $63 and keeps a Buy rating on the shares. Initial 2023 guidance "sets a reasonable starting point," but the exclusion of buybacks means the EPS outlook is "conservative," said the firm, which calls Academy "one of the best-positioned ‘discretionary’ businesses ahead of a potential spending downturn."
Published first on TheFly
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Read More on ASO:
- Academy Sports price target raised to $78 from $72 at TD Cowen
- Academy Sports price target raised to $73 from $68 at Wedbush
- Academy Sports price target raised to $73 from $65 at Loop Capital
- Academy Sports price target raised to $85 from $75 at Oppenheimer
- Academy Sports sees FY23 adjusted EPS $7.00-$7.75, consensus $7.65
