Truist analyst Michael Swartz lowered the firm’s price target on Topgolf Callaway to $25 from $30 and keeps a Buy rating on the shares. The company’s Q2 results were ahead of expectations but FY23 guidance was only reiterated, the analyst tells investors in a research note. Truist sees “greater trepidation” around Topgolf given softer-than-anticipated Q2-Q3 trends and with a higher bar now set for Q4.
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 today’s best-performing stocks on TipRanks >>
Read More on MODG:
- Topgolf Callaway price target lowered to $26 from $32 at BofA
- TOPGOLF CALLAWAY BRANDS ANNOUNCES SECOND QUARTER 2023 RESULTS
- Topgolf Callaway reports Q2 EPS 39c, consensus 34c
- Callaway Golf, Jon Rahm announce long-term partnership extension
- 3 Best Stocks to Buy Now, 6/16/2023, According to Top Analysts