UPDATE: UBS Starts Acushnet Holdings (GOLF) at Buy

November 22, 2016 7:48 AM EST
Get Alerts GOLF Hot Sheet
Price: $19.40 -2.61%

Rating Summary:
    11 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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(Updated - November 22, 2016 8:29 AM EST)

UBS initiated coverage on Acushnet Holdings (NYSE: GOLF) with a Buy rating and a price target of $22.

Analyst Michael Binetti said, "Acushnet (GOLF) has #1 market share in golf balls, shoes, and gloves between its iconic Titleist & FootJoy brands. While the golf industry has had a volatile growth trajectory in recent years, GOLF over-indexes to the most enviable parts of the ecosystem: 1) aspirational consumers ("Dedicated Golfers"), and 2) dominant share in the most profitable categories. GOLF focuses on dedicated golfers (who represent just 15% of players, but 70% of total golf spend)—who are heavily influenced by pro players. With pros validating its brands (62% of balls used on pro tours are Titleist Pro V1, 5x higher than the #2 ball) GOLF enjoys industry-leading ASPs & margins in the most profitable categories (49% share & industry-leading pricing in the high-margin golf ball category)."

For an analyst ratings summary and ratings history on Acushnet Holdings click here. For more ratings news on Acushnet Holdings click here.

Shares of Acushnet Holdings closed at $19.02 yesterday.



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