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Gilford Securities Reiterates Buy Rating on Callaway Golf

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In a report published Monday, Gilford Securities Incorporated reiterated its Buy rating on Callaway Golf (NYSE: ELY).

Gilford noted, “Our Gross Margin % assumptions for the balance of 2012 were still too high and we are adjusting our estimate down. CEO Brewer has made it clear that they will burn out inventories in order to set the stage for 2013...Despite the headlines, European revenues were actually up 1% during the quarter despite a very weak Euro during the quarter. This was very encouraging.”

Callaway Golf closed on Friday at $5.55.

Latest Ratings for ELY

DateFirmActionFromTo
Oct 2014CRT CapitalMaintainsBuy
Oct 2014Imperial CapitalInitiates Coverage onIn-line
Sep 2014WunderlichInitiates Coverage onHold

View More Analyst Ratings for ELY
View the Latest Analyst Ratings

Posted-In: Gilford SecuritesAnalyst Color Reiteration Analyst Ratings

 

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