Acushnet Holdings coverage transitioned with an Overweight at KeyBanc

KeyBanc transitioned coverage of Acushnet Holdings to analyst Noah Zatzkin who rates the stock with an Overweight rating and $57 price target. While golf is discretionary, the firm has a "selective approach" across the leisure sleeve and prefers its extended post-COVID retail and participation resilience, the analyst tells investors in a research note. KeyBanc adds it is positive on Acushnet’s status as the only public pure-play and its strong balance sheet/capital sentiment while noting that sentiment on the stock has drifted overly negative.