Jefferies Starts Golfsmith International (GOLF) at Buy
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Jefferies initiates coverage on Golfsmith International (NYSE: GOLF) with a Buy rating and a price target of $25.00.
Analyst Randal Konik commented, "We believe GOLF should see steady growth as it drives further market share gains, and benefits from an improving industry backdrop. A loyal customer base and high consumables penetration add a key aspect of predictability. We initiate coverage of GOLF with a Buy rating & $25 PT and see the risk/reward skewed to the upside. We expect the stock to be driven by multiple expansion, as GOLF trades below its peer set."
NOTE: JEF was a passive bookrunner in the Oct. '16 IPO.
Shares of Golfsmith International closed at $19.02 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co, IPO
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