Truist raised the firm’s price target on Academy Sports (ASO) to $57 from $50 and keeps a Hold rating on the shares after its Q3 results. Overall topline trends remain softer/mixed, with growth initiatives generating strong results, and gross margins “handily beat”, the analyst tells investors in a research note. The company executed well to elevate their assortment and attract higher-income traffic, but it is also facing potential headwinds around lower/middle income consumer base spending, the firm added.
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