Topgolf Callaway Brands shares are trading lower on continued weakness after the company reported worse-than-expected Q2 revenue results and issued soft Q3 revenue guidance on Wednesday. Also, B of A Securities downgraded the stock from Buy to Neutral and multiple firms lowered their respective price targets.
Portfolio Pulse from Benzinga Newsdesk
Topgolf Callaway Brands shares are trading lower due to worse-than-expected Q2 revenue results and soft Q3 revenue guidance. Additionally, B of A Securities downgraded the stock from Buy to Neutral, and multiple firms lowered their price targets.
August 08, 2024 | 5:17 pm
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Topgolf Callaway Brands shares are trading lower due to worse-than-expected Q2 revenue results and soft Q3 revenue guidance. B of A Securities downgraded the stock from Buy to Neutral, and multiple firms lowered their price targets.
The combination of disappointing Q2 results, soft Q3 guidance, a downgrade from B of A Securities, and lowered price targets from multiple firms is likely to negatively impact Topgolf Callaway Brands' stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100