Market ‘yet to fully appreciate’ Topgolf Callaway transformation, says Jefferies

Jefferies analyst Randal Konik believes "the market has yet to fully appreciate" Topgolf Callaway’s transformation "into a preeminent golf entertainment platform" and the firm contends that Topgolf, Callaway, TravisMathew, Ogio, and Jack Wolfskin can "all benefit for years to come" given the emergence of "a renaissance period for the sport of golf." Tailwinds to golf remain favorable and Topgolf Callaway is "uniquely positioned to capitalize on growing interest in the sport," argues the firm, which has a Buy rating and $56 price target on the shares.