Truist lowered the firm’s price target on Topgolf Callaway to $18 from $25 but keeps a Buy rating on the shares. The company reported a “disappointing” Q3 earnings print and cut its FY23 guidance, though the management’s near-term efforts to prioritize cash/debt reduction and more sober commentary around Topgolf could be a “needed elixir” for the stock, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MODG:
- Topgolf Callaway price target lowered to $21 from $31 at B. Riley
- Topgolf Callaway cut to Neutral at JPMorgan on pricing and traffic headwinds
- Topgolf Callaway downgraded to Neutral from Overweight at JPMorgan
- Topgolf Callaway downgraded to Equal Weight from Overweight at Stephens
- Topgolf Callaway price target lowered to $20 from $27 at KeyBanc
Questions or Comments about the article? Write to editor@tipranks.com