TD Cowen analyst John Kernan reiterated an Outperform rating and $78 price target on Academy Sports. Management gave a "confident" presentation that highlighted competitive advantages, including a service-led store model, improving supply chain execution, omni-channel capabilities, and experienced management team, the analyst tells investors in a research note, adding that its growth initiatives will fuel its long-term sales goal of $10B. The firm believes store growth in new and adjacent markets could lead to $17+ in EPS and $1B in annual free cash flow by FY27, and if management hits these targets, TD Cowen sees a clear path to $10B+ market cap.
Published first on TheFly
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