Topgolf Callaway price target raised to $11 from $10 at Morgan Stanley

Morgan Stanley analyst Megan Alexander raised the firm’s price target on Topgolf Callaway to $11 from $10 and keeps an Underweight rating on the shares. The firm is updating estimates and price targets across its North America Leisure coverage to reflect recent data trends and to mark to market, as well as rolling forward to value on 2025 estimates in many cases, the analyst tells investors. For Topgolf, the firm sees estimate risk as “still biased to the downside” and calls the valuation “expensive.”