Truist analyst Joseph Civello raised the firm’s price target on Academy Sports (ASO) to $47 from $45 but keeps a Hold rating on the shares after its Q1 earnings miss. The company’s expanded Nike (NKE) and new Jordan assortment is outperforming expectations while the trade-down benefits are accelerating, though the overall traffic was down mid-single-digits in Q1 and May comps trended down by low-single-digits, the analyst tells investors in a research note.
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