Evercore ISI analyst Greg Melich raised the firm’s price target on Academy Sports to $78 from $75 and keeps an Outperform rating on the shares. With a positive December reverting back to negative into 2024, guidance “became the market focus” and the company landed an EPS midpoint of $6.45, effectively 10% below Street expectations, the analyst noted. However, along with the earnings guidedown, management reiterated long term goals with the theme of a “challenged consumer, not challenged strategy,” the analyst added.
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