Credit Suisse Starts Golfsmith International (GOLF) at Neutral

November 22, 2016 6:53 AM EST
Get Alerts GOLF Hot Sheet
Price: $18.87 --0%

Rating Summary:
    11 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Credit Suisse initiates coverage on Golfsmith International (NYSE: GOLF) with a Neutral rating and a price target of $20.00.

Analyst Christian Buss commented, "We initiate coverage of Acushnet with a Neutral rating and $20 target price. We view the company as well-positioned within the golf equipment market, with a strong brand portfolio, industry-leading R&D capabilities and innovation, and a focused consumer demographic. However, we have big concerns about a deteriorating golf market with retailers pressured and golf courses closing. We expect mid-to-high single-digit earnings growth over the next 5 years. Our target price is based in part on a multiple in-line with Sporting Goods and Lifestyle peers (17.5x FY17 EPS of $1.14), suggesting a balanced risk/reward profile."

For an analyst ratings summary and ratings history on Golfsmith International click here. For more ratings news on Golfsmith International click here.

Shares of Golfsmith International closed at $19.02 yesterday.

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