Morgan Stanley lowered the firm’s price target on Academy Sports (ASO) to $55 from $60 and keeps an Equal Weight rating on the shares. Morgan Stanley is encouraged by Academy’s initiatives to improve merchandising execution and its expanding partnership with Nike (NKE), but limited visibility into ’25e comps and rising SG&A investments to support new store growth and eCommerce keep the firm on the sidelines, the analyst tells investors in a research note.
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Read More on ASO:
- Balanced Risk/Reward Scenario Justifies Hold Rating for Academy Sports and Outdoors Amid Mixed Financial Signals
- Academy Sports and Outdoors Reports Earnings and Expansion Plans
- Promising Outlook for Academy Sports and Outdoors: Buy Rating with Over 25% Upside Potential
- Academy Sports price target lowered to $60 from $66 at Jefferies
- Academy Sports says ‘pretty happy’ with trend coming out of February
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