Topgolf Callaway price target raised to $20 from $15 at Roth MKM

Roth MKM raised the firm’s price target on Topgolf Callaway to $20 from $15 and keeps a Buy rating on the shares after its smaller than expected Q4 earnings loss. The firm’s outlook remains positive on the stock following its Q4 report, though it also sees the stock remain “range-bound” until Topgolf comps improve or margins show leverage, the analyst tells investors in a research note.