Wells Fargo analyst Will Gaertner took over coverage of Academy Sports and kept an Overweight rating on the name with a $68 price target. The company operates in a “very strong” sporting goods industry and is benefiting from retail “best practices” put in place by the leadership team, the analyst tells investors in a research note. The firm believes Academy has “underappreciated” earnings accretion in the coming years from balance sheet deleveraging and “shareholder-friendly” actions.
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Published first on TheFly
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