Callaway Golf (ELY) PT, Estimates Raised at Jefferies Following Another Solid Qtr
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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.
Shares of Callaway Golf closed at $9.87 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Randal Konik
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