Analyst Jonathan Matuszewski of Jefferies reiterated a Buy rating on Academy Sports and Outdoors (ASO – Research Report), reducing the price target to $52.00.
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Jonathan Matuszewski has given his Buy rating due to a combination of factors that highlight Academy Sports and Outdoors’ strong market position and potential for growth. A key element of his analysis is the successful merchandise refresh, which has sparked increased demand. The introduction of popular brands like Converse and Jordan has resonated well with both new and existing customers, as evidenced by significant traffic to Academy’s website for related search terms.
Furthermore, Matuszewski notes that Academy’s website is competing effectively with major retailers for online traffic, indicating a robust digital presence. He also points out that the ongoing rollout of the Jordan brand across more locations will continue to drive sales. Despite near-term economic uncertainties, Matuszewski is optimistic about the company’s medium-term prospects, citing the potential for higher-income consumers to trade down and the opportunity for multiple expansion as positive factors not yet fully reflected in the stock price.
ASO’s price has also changed slightly for the past six months – from $50.000 to $46.390, which is a -7.22% drop .