Goldman Sachs Turns Bullish On This Sporting Goods Store Chain, Thanks To Nike

by Shivani Kumaresan, Benzinga Staff Writer

December 14, 2021 11:34 AM | 1 min read |

Goldman Sachs analyst Kate McShane upgraded Academy Sports And Outdoors Inc ASO to Buy from Neutral with a price target of $58, up from $47, implying a 34% upside.
The analyst believes consumers have adopted new interests within outdoor, fitness, and sports categories and that this trend "will be sticky" into 2022.
Further, population migration trends seem to favor Academy Sports' current footprint and its established relationship with Nike Inc NKE is a competitive advantage over less-differentiated competitors, McShane notes.
Price Action: ASO shares are trading higher by 2.09% at $43.41 on the last check Tuesday.