TOPGOLF CALLAWAY BRANDS ANNOUNCES THIRD QUARTER 2023 RESULTS
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/14/2026
- Wall St set for muted open as Middle East tensions curb risk appetite
- BofA's Hartnett explains why Wall Street is trading with 'no fear'
- Oil rises after US threatens indefinite blockade of Iran; set for weekly gains
- Are KOSPI and SOX in a bubble? Citi answers
- Could Intel return to the red-hot memory market after $20B raise and recent hire?
JPMorgan Downgrades Topgolf Callaway Brands (MODG) to Neutral
November 9, 2023 8:13 AM ESTJPMorgan analyst Kevin Heenan downgraded Topgolf Callaway Brands (NYSE: MODG) from Overweight to Neutral with a price target of $13.00 (from $23.00).
The analyst comments "We are downgrading shares of MODG to Neutral with $13 Dec 24 price target based on 7.5x our FY25 EBITDA (w/ underlying EBIT dollars now modeled >30% below Consensus). By the numbers, our FY24 model now embeds negative 2.8% same-venue-sales (= +1.1% 4Q exit rate CAGR vs. 2019 roll forward holding... More
