Callaway Golf price target raised to $17 from $12 at Truist

Truist raised the firm’s price target on Callaway Golf (CALY) to $17 from $12 and keeps a Buy rating on the shares following last month’s “highly encouraging” PGA Show. While the analyst acknowledges that the golf industry is not immune from tariffs, discretionary spend challenges, or the prospect that some player demand fades, it argues that on a relative basis there are “few if any sectors” within the firm’s leisure coverage that has “such positive momentum today particularly in a K-shaped economy.”