Topgolf Callaway Brands Corp.: Rating Downgrade On Poor SVS Performance
MODGTopgolf Callaway Brands (MODG) Seeking Alpha·2024-08-20 21:36
Morsa Images/DigitalVision via Getty Images Summary Following my coverage of Topgolf Callaway Brands Corp. (NYSE:MODG) in May'24, for which I recommended a buy rating as the business was progressing well, which, I thought, would enable MODG to beat the FY24 guidance, this post is to provide an update on my thoughts on the business and stock. I revised my rating from buy to sell as I have lost confidence in MODG's ability to drive positive SVS growth in the near term, especially since all the initiatives ...