Callaway Golf (ELY) PT Lowered to $55 at Jefferies

Jefferies analyst Randal Konik lowered the price target on Callaway Golf (NYSE: ELY) to $55.00 (from $60.00) while maintaining a Buy rating.

The analyst commented, "1Q ahead of original targets (as expected with analyst day preannouncement), 2Q guidance ahead of ests, and 2022 outlook raised above the Street. Topgolf walk-in traffic remains strong, with events recovering faster than expected. Defying macro concerns, golf demand remains strong (supporting not all COVID beneficiaries are equal). PT moves to $55 as we load deemed landlord financing for net debt methodology in line with co reporting."

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