Instinet Starts Acushnet Holdings (GOLF) at Buy
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Instinet initiates coverage on Acushnet Holdings (NYSE: GOLF) with a Buy rating and a price target of $22.00.
Analyst Simeon Siegel commented, "We expect Acushnet's market dominance to persist and see LSD top-line growth as achievable, given its leading brands and the fact that the majority of its business is generated by high-margin consumable-in-nature golf balls. We believe the R&D and advertising commitment demanded by the sport will insulate GOLF from competition (from both start-ups and large athletic brands). We acknowledge that the headwinds facing golf are unlikely to abate (i.e., ongoing dichotomy between fewer players and courses vs. stabilizing rounds played), and we believe the LT will be measured, but we see NT oppty at current levels. We thus initiate coverage of GOLF with a Buy. FY16E EPS at $1.15; FY17E EPS at $1.15."
Shares of Acushnet Holdings closed at $19.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesNoble Financial
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!