- 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.
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