Loop Capital encouraged by price competitiveness at Academy Sports

Loop Capital keeps a Buy rating and $77 price target on Academy Sports (ASO) after its pricing study of 50 exact items that compares the company’s prices with those of several competitors. The firm is “encouraged” by the findings as Academy’s prices are 2.1% less expensive than its competitors on average, which is wider than 1.1% less expensive in the October study, the analyst tells investors in a research note. Academy’s comparable store sales growth should positively inflect in FY25, Loop states, adding however that investor patience is likely to wear thin otherwise.