Academy Sports price target raised to $77 from $65 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Academy Sports to $77 from $65 and keeps a Buy rating on the shares. The analyst notes that the firm’s pricing study for the company relative to its competition revealed a price differential that was the lowest seen thus far, with Academy 3.5% less expensive than its competitors on average and a 9.6% lower total basket price. Loop adds that it is encouraged by Academy’s continued price competitiveness, and given its bullish fundamental macroeconomic outlook entering the New Year, along with the company’s fairly easy two-year stacked comparisons, it is boosting its price target.