Academy Sports price target raised to $63 from $60 at Truist

Truist analyst Joseph Civello raised the firm’s price target on Academy Sports to $63 from $60 and keeps a Buy rating on the shares. The stock rallied after the company’s in-line Q2 results and guidance cut as the reduction wasn’t as severe as investors expected and August inflected to positive comp growth, the analyst tells investors in a research note. Academy Sports’ gross margins and free cash flow also remain bright spots, while its management continues to execute on key initiatives around new stores, loyalty program, and omnichannel distribution, the firm added.