Truist analyst Michael Swartz raised the firm’s price target on Topgolf Callaway to $30 from $28 and keeps a Buy rating on the shares. The company saw a "weather-influenced" earnings miss in Q4 but raised its FY23 guidance, albeit entirely on more benign FX, the analyst tells investors in a research note. The firm adds that this was not the "highest quality quarter" for Topgolf Callaway, but the flattish outlook for Golf Equipment and high-single-digit SVS growth at Topgolf is viewed positively by investors.
Published first on TheFly
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