Callaway Golf (ELY) Stock: $45 Price Target From BofA

By Amit Chowdhry ● Nov 17, 2021
  • The shares of Callaway Golf Co (NYSE: ELY) have received a $45 price target from BofA. These are the details.

The shares of Callaway Golf Co (NYSE: ELY) have received a $45 price target from BofA. And BofA analyst Alexander Perry initiated coverage of Callaway Golf with a “Buy” rating.

Perry is positive on the company’s strong market share in the growing golf equipment market and the expected stickiness among its new entrants amid a surge in solitary leisure participation. Going forward, Perry expects Callaway’s Topgolf locations to recover ahead of expectations while noting that its potential upside in 2022 should be driven by new product launches and pricing.

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