Academy Sports & Outdoors Inc. (ASO) PT Raised to $65 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the price target on Academy Sports & Outdoors Inc. (NASDAQ: ASO) to $65.00 (from $60.00) while maintaining a Buy rating.

The analyst commented: "While waiting for Academy Sports and Outdoor's ("Academy") comparable sales to turn positive has felt like waiting for Godot, we believe comps will indeed positively inflect sometime in F2025 (possibly in the current quarter). We think such an inflection would lead to a significant revaluation, particularly given Academy's long square footage growth runway. DICK'S Sporting Good's ("Dick's") current valuation provides a decent starting point to consider Academy's potential "post positive comp inflection" valuation in our opinion; even if we assume Academy were to still trade at a considerable discount to Dick's implies significant upside from current levels. Academy remains our favorite SMID Cap value long idea; we are reiterating our Buy rating while raising our price target to $65 from $60."

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