KeyBanc Believes Callaway Golf (NYSE: ELY) Still Has Room to Grow

By Austin Angelo

In a report released today, Scott Hamann from KeyBanc assigned a Buy rating to Callaway Golf (NYSE: ELY), with a price target of $16. The company’s shares closed yesterday at $13.75, close to its 52-week high of $13.76.

Hamann has an average return of 16.1% when recommending Callaway Golf.

According to TipRanks.com, Hamann is ranked #1325 out of 4629 analysts.

Currently, the analyst consensus on Callaway Golf is Moderate Buy and the average price target is $15.67, representing a 14.0% upside.

In a report issued on August 22, Imperial Capital also maintained a Buy rating on the stock with a $16 price target.

The company has a one year high of $13.76 and a one year low of $9.77. Currently, Callaway Golf has an average volume of 812.3K.

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Callaway Golf Co. engages in the manufacture and distribution of golf equipment and accessories. It operates through the Golf Clubs and Golf Balls segments. The Golf Clubs segment consists of Callaway Golf woods, hybrids, irons, wedges, and odyssey putters. The Golf Balls segment consists of Callaway Golf and Strata balls that are designed, manufactured, and sold by the company. The company was founded by Ely Reeves Callaway, Jr. in 1982 and is headquartered in Carlsbad, CA.