Acushnet downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Acushnet Holdings (GOLF) to Sector Weight from Overweight without a price target. The firm continues to prefer golf, but shifted its positioning to Topgolf Callaway (MODG) over Acushnet due to valuation. Acushnet’s core golf equipment business remains solid, but the stock’s valuation “screens increasingly heavy,” the analyst tells investors in a research note.