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Fly News Breaks for January 6, 2020
ELY, GOLF
Jan 6, 2020 | 16:52 EDT
Jefferies analyst Randal Konik downgraded Acushnet Holdings (GOLF) to Hold from Buy with an unchanged price target of $34. The stock's valuation is near an all-time high with a lack of near-term catalysts, Konik tells investors in a research note. The analyst believes Acushnet remains "best-in-class" but he prefers shares Callaway Golf (ELY) as a way to play strength in the golf industry. Acushnet's positives are already reflected in the stock price, contends Konik.
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