Callaway Golf (ELY) Stock: $30 Price Target And Overweight Rating

By Amit Chowdhry ● Apr 27, 2022
  • The shares of Callaway Golf Co (NYSE: ELY) have received a $30 price target from JPMorgan. These are the details.

The shares of Callaway Golf Co (NYSE: ELY) have received a $30 price target from JPMorgan. And JPMorgan analyst Kevin Heenan assumed coverage of Callaway Golf with an “Overweight” rating. 

Heenan adjusted the rating while seeing the 2022 outlook for golf as balanced with tailwinds from pricing, channel re-stock, and product innovation weighed against challenging comparisons and a broader economic reopening. 

Heenan prefers the shares of Callaway over Acushnet for the next year. And the year-to-date share declines present an attractive multi-year entry point to own the leading brands in an expanding and healthier golf industry.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.