Citi analyst Paul Lejuez downgraded Academy Sports (ASO) to Neutral from Buy with a price target of $50, down from $55. The firm says the company’s positive comps in Q2 were offset by weaker than expected gross margins. Citi is now more cautious on Academy positing positive comps in the back of 2025 and 2026 due to more difficult comparisons from last year’s price increases. The firm views the stock’s risk/reward as balanced.
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