KeyBanc upgraded Topgolf Callaway (MODG) to Overweight from Sector Weight with a $17 price target The firm continues to prefer golf, and shifted its positioning to Topgolf over Acushnet (GOLF) due to valuation. KeyBanc cites its fiscal 2026 outlook coupled with Topgolf’s current valuation upside following the sale of a majority stake in Topgolf for the upgrade.
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