TD Cowen analyst John Kernan raised the firm’s price target on Academy Sports to $86 from $67 and keeps an Outperform rating on the shares. The company saw trends improve in Q4 based on checks and data, with the “wild card” being how trends have faired in Q1 and how this could inform initial fiscal 2024 guidance, the analyst tells investors in a research note. the firm cites it work on preference in sporting goods, market share opportunity and above-consensus estimates for the higher price target. TD expects all of Academy Sports’ categories to return to positive growth in fiscal 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ASO:
- Academy Sports + Outdoors Increases Quarterly Cash Dividend
- Academy Sports raises quarterly dividend to 11c from 9c per share
- Academy Sports Board Member Sharen J. Turney Resigns
- Academy Sports price target raised to $75 from $68 at Guggenheim
- Academy Sports price target raised to $77 from $73 at Truist
