Topgolf Callaway price target lowered to $14 from $17.50 at Raymond James

Raymond James lowered the firm’s price target on Topgolf Callaway to $14 from $17.50 and keeps an Outperform rating on the shares follow the Q2 earnings report. Much of the gains in the golf equipment business during Covid are likely to prove sustainable, while Topgolf continues to recover from the pandemic and represents a multi-year growth opportunity for the company, the analyst tells investors in a research note.