Topgolf Callaway price target raised to $23 from $21 at Compass Point

Compass Point analyst Casey Alexander raised the firm’s price target on Topgolf Callaway to $23 from $21 and keeps a Buy rating on the shares. Aside from the company’s “predictably conservative” guidance for Q1, the FY24 guidance was “fairly well in line and in our view highly achievable,” the analyst tells investors in a post-earnings note. While the various business units remain “persistently lumpy in terms of comps,” the consolidated platform should continue to grow and the firm believes the Topgolf Callaway “story is becoming simpler,” the analyst added.