Jefferies Downgrades Topgolf Callaway Brands to Hold, Lowers Price Target to $12
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Randal Konik has downgraded Topgolf Callaway Brands (NYSE:MODG) from Buy to Hold and significantly lowered the price target from $40 to $12.
August 29, 2024 | 3:24 pm
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Jefferies has downgraded Topgolf Callaway Brands from Buy to Hold, with a drastic reduction in the price target from $40 to $12, indicating a less optimistic outlook.
The downgrade from Buy to Hold and the significant reduction in the price target from $40 to $12 by Jefferies suggests a negative outlook for Topgolf Callaway Brands. This is likely to lead to a short-term decline in the stock price as investors react to the less favorable analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100