Citi initiated coverage of Academy Sports (ASO) with a Buy rating and $65 price target The firm says that after Academy’s comps have been pressured over the last three years, it sees signs of comp pressure abating in fiscal 2025, driven by recovery in several pandemic categories, stepped-up allocation from Nike (NKE), and a tailwind from new stores entering the comp base. With only 298 stores at the end of fiscal 2024, Academy Sports has significant growth runway, the analyst tells investors in a research note.
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