Acushnet Holdings price target raised to $63 from $61 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Acushnet Holdings to $63 from $61 and keeps an Equal Weight rating on the shares following a mixed report with a “rare” Q4 headline miss but initial FY24 guidance above the Street. The second half weighted guidance and soft Q1 outlook likely pressured the stock following year-to-date strength, says the analyst, who thinks the “stock may be somewhat of a show-me” at peak multiple.