Instinet Starts Acushnet Holdings (GOLF) at Buy
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your 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
- BTIG Starts Mitek Systems (MITK) at Buy
- MKM Partners Raises Price Target on Hartford Financial (HIG) to $55
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
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!