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Investing.com - KeyBanc raised its price target on Acushnet Holdings (NYSE:GOLF) to $80.00 from $75.00 on Friday, while maintaining an Overweight rating on the golf equipment maker’s stock. The company, currently valued at $4.36 billion, is trading near its 52-week high of $76.65, with shares up 14% over the past year.
The price target increase followed KeyBanc’s tour of Acushnet’s Massachusetts golf ball manufacturing plant and meetings with company management, which left the firm "incrementally positive" on both Acushnet’s near-term resilience and long-term opportunity.
KeyBanc noted that Acushnet’s underlying resilience stems partly from the sport’s medium-term durability, with the firm viewing positive momentum in golf participation favorably for the company’s prospects.
The research firm cited several favorable long-term dynamics supporting its bullish outlook, including Acushnet’s focus on dedicated golfers, widening demographics in the sport, and customer retention, which KeyBanc believes warrant a premium valuation for the stock.
KeyBanc’s higher price target reflects improved visibility regarding tariff impacts and mitigation strategies, along with better retail visibility compared to its previous assessment.
In other recent news, Acushnet Holdings Corp . reported its first-quarter 2025 financial results, exceeding analyst expectations with an earnings per share (EPS) of $1.62, compared to the forecasted $1.32. The company also surpassed revenue forecasts, reporting $703 million against the anticipated $697.38 million. Despite the earnings beat, Acushnet’s adjusted EBITDA decreased by 9.6% year-over-year, reflecting ongoing operational challenges. KeyBanc Capital Markets responded by raising its price target for Acushnet to $75 from $70, citing improved tariff clarity and the company’s effective mitigation strategies. Meanwhile, JPMorgan revised its price target down to $57 from $64, maintaining an Underweight rating due to a slight decline in adjusted EBITDA and concerns over gross margin contraction. Truist Securities adjusted its price target for Acushnet to $65 from $64, retaining a Hold rating, noting the company’s stable retail environment but cautioning about macroeconomic uncertainties. Acushnet’s management has not updated its full-year guidance, citing ongoing tariff uncertainties, but remains optimistic about mitigating more than half of the projected $75 million tariff impact by 2025.
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