Compass Point lowered the firm’s price target on Topgolf Callaway (MODG) to $13.50 from $17 and keeps a Buy rating on the shares. The firm, which now estimates Topgolf will have a 5% long-term growth rate, is reducing its multiple target to equal that expected growth rate, while also reducing its multiple for the Callaway golf equipment and Active Lifestyle business to 12-times EV/EBITDA.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MODG:
- Topgolf Callaway price target lowered to $10 from $12 at BofA
- Topgolf Callaway price target lowered to $16 from $17 at Roth MKM
- Topgolf Callaway price target lowered to $12 from $14 at Goldman Sachs
- Topgolf Callaway price target lowered to $14 from $16 at Truist
- Topgolf Callaway price target lowered to $11 from $13 at JPMorgan