Loop Capital keeps a Buy rating and $65 price target on Academy Sports, stating that while the company reported worse than expected Q3 results, this was “largely weather driven”. Academy’s nearly 35% year-to-date gross margin runs counter to the bearish narrative that profit margins are doomed to return to pre-pandemic levels, Loop states, adding that it was also encouraged by the significant sequential improvement in the outdoor business.
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Read More on ASO:
- Academy Sports and Outdoors call volume above normal and directionally bullish
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