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ELY

Callaway Golf

$20.18

0.06 (0.30%)

07:48
06/14/18
06/14
07:48
06/14/18
07:48

Callaway price target raised to $23 ahead of U.S. Open at JPMorgan

JPMorgan analyst Steven Zaccone raised his price target for Callaway Golf to $23 ahead of this week's U.S. Open at Shinnecock Hills Golf Club in Southampton, NY. The recent strength in the U.S. golf market, combined with the strong reception to Callaway's new product offerings, should drive upside to Street estimates, Zaccone tells investors in a research note. The analyst believes Callaway's fiscal 2018 guidance "conservatively embeds" first half market growth of 9%-10% decelerating to flat-to-low growth in the second half. He reiterates an Overweight rating on the shares.

ELY Callaway Golf
$20.18

0.06 (0.30%)

04/18/18
DADA
04/18/18
DOWNGRADE
Target $19
DADA
Neutral
Callaway Golf downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Andrew Burns downgraded Callaway Golf to Neutral from Buy with a price target unchanged at $19, saying he expects a more balanced risk-reward in 2018 as further market share gains will be difficult to achieve. The analyst contends that while the golf industry is healthy and retail inventories are "lean", inclement weather conditions in April and "compelling" products sold by other top brands should create a more competitive environment. Burns further notes that while Q1 results should be fine in the context of the February guidance, the balance of the year may see a "more muted earnings upside potential".
04/18/18
04/18/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Juniper (JNPR) downgraded to Sell from Neutral at Goldman Sachs with analyst Rod Hall saying his detailed cloud installed base model suggests further transitional downside. 2. Zillow (Z, ZG) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Jonathan Lanterman citing the company's recently announced plans for a new home buying and selling business, Zillow Instant Offers. 3. Altria Group (MO) downgraded to Neutral from Buy at Citi with analyst Adam Spielman saying e-cigarette JUUL is beginning to disrupt U.S. cigarette industry. 4. Callaway Golf (ELY) downgraded to Neutral from Buy at DA Davidson with analyst Andrew Burns saying he expects a more balanced risk-reward in 2018 as further market share gains will be difficult to achieve. 5. GrubHub (GRUB) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Brian Nowak citing the company's 175% advance since the start of 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/18
JPMS
04/20/18
NO CHANGE
Target $19
JPMS
Overweight
Callaway recent weakness brings buying opportunity, says JPMorgan
JPMorgan analyst Steven Zaccone believes transient issues are driving near-term weakness in shares of Callaway Golf. The analyst sees a "multi-year buying opportunity" and keeps an Overweight rating on the name with a $19 price target. Strength of Callaway's product lineup in 2018, improving golf market dynamics for supply/demand, and management's track record of conservatism should result in Q1 exceeding expectations with a modest raise to fiscal year guidance, Zaccone tells investors in a pre-earnings research note. He believes Callaway Golf's double-digit earnings growth story is based on an "innovative product portfolio gaining market share, sustainable improvement in golf industry trends, and tangential growth into margin-accretive lifestyle categories."
05/03/18
IMPC
05/03/18
NO CHANGE
Target $21
IMPC
Outperform
Callaway Golf price target raised to $21 from $19 at Imperial Capital
Imperial Capital analyst George Kelly raised his price target for Callaway Golf to $21 citing the company's "impressive" Q1 results. The analyst says he does not understand why the shares were up only modestly following the "blowout quarter." Callaway has "strong industry tailwinds, great new products, and impressive financial metrics," Kelly tells investors in a post-earnings research note. He views the company's second half of 2018 guidance as conservative, raised his estimates "considerably," and keeps an Outperform rating on the shares..

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Week ending ETF Scorecard: Utilities and Real Estate advance, Industrials slump »

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PFNX

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COOL

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