Callaway Golf price target raised to $15 from $11 at BofA

BofA analyst Andrew Didora raised the firm’s price target on Callaway Golf (CALY) to $15 from $11 and keeps a Neutral rating on the shares. Growth in golf rounds played over the past three years has normalized in the low-single digits and the current golf consumer is healthy with golf spend one of the strongest leisure categories in the the firm’s aggregated credit and debit card data, says the analyst, who contends that the company now needs to stem market share losses and return to revenue and earnings growth.