Roth Capital analyst George Kelly keeps a Buy rating and $14 price target on Topgolf Callaway (MODG) after the company announced the sale of 60% of Topgolf to private equity. The firm “would have preferred an outright sale”, but it is still pleased nonetheless would “take advantage of the surprising negative market reaction”, the analyst tells investors in a research note. The stock is “inexpensive” given the various levels available to drive material EBITDA growth, Roth added.
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