Callaway Golf (ELY) PT, Estimates Raised at Jefferies Following Another Solid Qtr

November 4, 2016 8:39 AM EDT
Get Alerts ELY Hot Sheet
Price: $11.27 -1.4%

Rating Summary:
    10 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Jefferies analyst Randal Konik raised estimates and his price target on Callaway Golf (NYSE: ELY) to $16.00 (from $14.00) following another solid quarter. The firm maintained a Buy rating.

Konik commented, "ELY's 3Q reaffirms our thesis that the company continues to gain share despite a mixed environment. EPS of ($0.06) exceeded cons. and guidance driven by better than expected revs and op. expenses, partially offset by softer GM. Reiterate Buy. Raising PT to $16 (from $14)."

The firm raised FY16 EPS from $0.50 to $0.54 and FY17 EPS from $0.51 to $0.56.

For an analyst ratings summary and ratings history on Callaway Golf click here. For more ratings news on Callaway Golf click here.

Shares of Callaway Golf closed at $9.87 yesterday.

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