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Fly News Breaks for February 11, 2020
Feb 11, 2020 | 08:09 EDT
Jefferies analyst Randal Konik said Callaway Golf is a beneficiary of a stabilizing golf industry backdrop, though this is being overshadowed for now by coronavirus-related disruption that will likely curb sales and margins in the near-term. While he trimmed his price target on Callaway shares to $26 from $28, Konik believes the issues are temporary and would be a buyer on weakness, telling investors that he expects a rebound once the virus issue subsides. He keeps a Buy rating on Callaway shares.
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