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.
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