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Academy Sports price target raised to $57 from $55 at Wells Fargo

Wells Fargo raised the firm’s price target on Academy Sports (ASO) to $57 from $55 and keeps an Equal Weight rating on the shares. The firm notes that investment spend drove solid sales results, but the margin miss overshadowed first positive comp since Q4 2021. Wells points out that Q3 compares get easier in September/October, but same-store sales trends in back half of August have turned back negative.

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