JPMorgan downgraded Acushnet Holdings (GOLF) to Underweight from Neutral with a price target of $64, down from $69. The firm reduced fiscal 2025 revenue expectations and sees share downside. The firm’s valuation multiple and 2026 EBITDA estimate points to Acushnet shares being overvalued relative to where they’re currently trading. Longer term, the company’s investment cycle will be a constraint to earnings, translating to flat EBITDA and flat to low-single-digit earnings growth, the analyst tells investors in a research note.
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