Acushnet Holdings price target lowered to $57 from $64 at JPMorgan

JPMorgan lowered the firm’s price target on Acushnet Holdings (GOLF) to $57 from $64 and keeps an Underweight rating on the shares following the company’s “mixed” Q1 report. Management is not providing updates to FY25 guidance due to current macroeconomic uncertainty, but management cited expectations for first half sales to be up low-single digits year-over-year and first half adjusted EBITDA dollars to be down low-single digits year-over-year, which implies Q2 revenues up 4.7% and EBITDA dollar growth of 7.0% year-over-year at the midpoint, the firm estimates.