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
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASO:
- Options Volatility and Implied Earnings Moves This Week, December 09 – December 12, 2024
- ASO Earnings this Week: How Will it Perform?
- Academy Sports announces $700M share repurchase program
- Academy Sports opens five new stores
- Workday initiated, Kraft Heinz downgraded: Wall Street’s top analyst calls