Academy Sports & Outdoors Inc. (ASO) PT Lowered at TD Cowen Amid Uncertainty

TD Cowen analyst John Kernan lowered the price target on Academy Sports & Outdoors Inc. (NASDAQ: ASO) to $47.00 (from $48.00) while maintaining a Hold rating.

The analyst commented: "Focus Shifts From Improving Comps to Uncertainty in 2H Margin Profile; Modeling 2H needs significantly less SG&A deleverage than 1H and Gross Margin increases y/y (supported by large AUR increases planned). The balance between Units (UPT) and AUR will be delicate given Academy's exposure to lower to middle income consumers. We lower our price target to $47 which is 8x FY26E EPS. Implied comp guidance for 2H is wide, highlighting uncertainty."

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