JPMorgan raised the firm’s price target on Acushnet Holdings (GOLF) to $67 from $57 and keeps an Underweight rating on the shares following Q2 results. The firm said that management cited strong initial sell-through trends in July on the recent T-series iron club launch and a “favorable” orderbook and inventory position to support demand over the balance of the year. JPMorgan noted ongoing challenges in the Korean apparel market and management’s deliberate actions to reset the positioning of FootJoy footwear product.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOLF:
- Acushnet Holdings reports Q2 EPS $1.25, consensus $1.38
- Acushnet Holdings (GOLF) Q2 Earnings Cheat Sheet
- Acushnet Holdings price target raised to $80 from $63 at Morgan Stanley
- Acushnet Holdings: Strong Golf Industry Position with Limited Upside Potential and Competitive Challenges
- Acushnet Holdings price target raised to $80 from $75 at KeyBanc