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ELY

Callaway Golf

$18.30

-0.31 (-1.67%)

04:48
09/11/19
09/11
04:48
09/11/19
04:48

Callaway Golf upgraded to Outperform from Market Perform at Raymond James

Raymond James analyst Joseph Altobello upgraded Callaway Golf to Outperform from Market Perform with a $21 price target.

  • 24

    Oct

ELY Callaway Golf
$18.30

-0.31 (-1.67%)

06/13/19
ROTH
06/13/19
NO CHANGE
Target $19
ROTH
Neutral
Jana more likely to push for Callaway divestitures than sale, says Roth Capital
Roth Capital analyst Dave King believes activist Jana Partners is more likely to pursue divestitures as opposed to an outright sale of Callaway Golf. The company appears undervalued based on a sum-of-the-parts analysis, Kang tells investors in a research after Jana disclosed a stake. He estimates the value of Topgolf at $2.90-plus per share and also believes investors would likely view a Jack Wolfskin sale positively. King values Callaway's core golf business, including TravisMathew and Ogio, at around $18.00 per share. To reflect increased potential for asset divestitures given the new activist stake, the analyst raised his price target for Callaway Golf shares to $19 from $17. However, he keeps a Neutral rating on the name. The stock in afternoon trading is up 15% to $18.32.
08/09/19
SPHN
08/09/19
UPGRADE
Target $21.5
SPHN
Overweight
Callaway Golf upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Daniel Imbro upgraded Callaway Golf to Overweight from Equal Weight and raised his price target on the shares to $21.50 from $18.00 following the company's report of "strong" Q2 results. Callaway's golf business continues to outpace the industry, a higher number of product launches should support revenue growth and he believes that accelerating earnings growth into 2020 should drive up the stock's multiple, Imbro tells investors in his post-earnings upgrade.
08/09/19
JEFF
08/09/19
NO CHANGE
Target $27
JEFF
Buy
Jefferies says buy Callaway after 'particularly impressive' Q2 report
Callaway Golf's Q2 beat and raised 2019 guidance on higher expectations for the core golf business is "particularly impressive given the soft market conditions," Jefferies analyst Randal Konik tells investors in a research note. Further, "strong" performance in the Jack Wolfskin business should help alleviate some concerns, adds the analyst. He believes Callaway's current valuation represents an attractive entry point "for this core small-cap holding." Konik reiterates a Buy rating on the shares with a $27 price target.
08/28/19
SPHN
08/28/19
NO CHANGE
Target $21.5
SPHN
Overweight
Callaway change in TopGolf language could be noteworthy, says Stephens
Callaway Golf last night filed a slide deck ahead of this week's investor roadshow, and the change in language around TopGolf was noteworthy, Stephens analyst Daniel Imbro tells investors in a research note. Previously, management's commentary suggested that TopGolf was complementary to the long-term business and additional investment could be a use of strengthening free cash flow, says the analyst. However, commentary in the current slides removed that wording and suggests that Callaway could create value through a monetization effort, contends Imbro. He believes the one-shift "could indicate a potentially expedited timeline." The analyst's sum-oft-he-parts valuation "conservatively" assumes that Callaway's ~14% ownership in TopGolf is worth $3 per share, based on the $290M valuation in the December 2017 funding round. He reiterates an Overweight rating on Callaway Golf shares with a $21.50 price target.

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PRVB

Provention Bio

$9.70

0.33 (3.52%)

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Darden

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, T

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CBS

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British American Tobacco

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MO

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PM

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CRON

Cronos Group

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MLHR

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Costco

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0.96 (0.33%)

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T

AT&T

$36.77

-0.39 (-1.05%)

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Dish

$35.58

0.3 (0.85%)

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AGCO

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PBR

Petrobras

$14.63

-0.31 (-2.08%)

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CE

Celanese

$123.69

-0.28 (-0.23%)

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STI

SunTrust

$68.57

0.48 (0.70%)

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WBS

Webster Financial

$48.84

0.43 (0.89%)

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HSBC

HSBC

$38.19

-0.1 (-0.26%)

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  • 27

    Oct

HES

Hess Corp.

$66.91

-0.92 (-1.36%)

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