Topgolf Callaway Brands is poised for significant gains as it prepares to separate into two companies, according to Jefferies analyst Randal Konik, who upgraded the stock to buy and raised the price target to $13. This represents a potential 65.4% upside after a nearly 45% drop over the past year. While company fundamentals are weak, Konik believes shares are oversold, and the upcoming spin-off could reveal strong value. He projects $278 million in adjusted EBITDA by 2026 and notes a recent 11.5% increase in golf participation. Five other analysts share a bullish outlook, with an average target around $14.
