Morgan Stanley analyst Megan Alexander initiated coverage of Topgolf Callaway with an Underweight rating and $12 price target. The analyst sees negative revision risk given limited topline visibility in uncertain consumer spending environment. Topgolf ‘s leverage and free cash flow “add to concerns,” driving one of the worst risk-adjusted returns in the sector, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MODG:
- Tigress sees significant upside in Topgolf Callaway shares
- 3 Best Stocks to Buy Now, 8/30/2023, According to Top Analysts
- Topgolf Callaway management to meet with B. Riley
- 3 Best Stocks to Buy Now, 8/22/2023, According to Top Analysts
- Topgolf Callaway price target lowered to $31 from $34 at Compass Point