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Fly News Breaks for December 17, 2018
ELY
Dec 17, 2018 | 07:46 EDT
Roth Capital analyst Dave King downgraded Callaway Golf to Neutral from Buy following the recent acquisition of Jack Wolfskin, stating that the deal moves Callaway beyond its core competency in golf. The acquisition raises uncertainty and he questions whether it portends slower trends in golf after two years of robust gains given the recent challenges affecting high-end consumers, King tells investors. He lowered his price target on Callaway shares to $17 from $24.
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