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JPMorgan lifts PT on red-hot Callaway Golf

  • JPMorgan lifts its price target on Callaway Golf (NYSE:ELY) to $23 from $20 on an optimistic view of golf demand trends. The all-time high on ELY is $20.29.
  • The investment firm also reiterates its Overweight rating on Callaway, even with shares up 45% YTD.
  • Callaway will be on full display this weekend as the U.S. Open takes place in Shinnecock Hills. The company sponsors golfers Phil Mickelson, Sergio Garcia and Henrik Stenson to name a few.

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