Academy Sports good news evasive for some time, says UBS

UBS analyst Michael Lasser thinks it “wouldn’t take a lot of good news” for Academy Sports (ASO) shares “to work in a meaningful way.” Good news, however, has been evasive for the company for some time, the analyst tells investors in a research note. The firm thinks Academy Sports will likely report a comp decline in line with the Census category retail sales decline for Q3. This would provide an indication that the company may be stabilizing its market share, contends UBS. Nonetheless, the firm thinks Academy Sports will likely have a hard time competing “with the juggernaut that Dick’s has been establishing.” As such, the shares will probably trade around the recent range given its low multiple, the firm says. It keeps a Neutral rating on the name with a $58 price target