Topgolf Callaway price target lowered to $31 from $34 at Compass Point

Compass Point analyst Casey Alexander lowered the firm’s price target on Topgolf Callaway to $31 from $34 and keeps a Buy rating on the shares. Topgolf Callaway is “on an operational roll,” but the firm is “struck by the conflicting signals of a company that has reasonably predictable growth, yet the stock price cannot get out of its own way,” the analyst tells investors. Despite trimming the firm’s price target, the analyst argues that the stock “offers a unique combination of short-term and long-term growth which creates a value proposition that is the best we have seen in a golf-oriented company in 20+ years of covering the space.”