ASO - Academy Sports lands higher price target from UBS after strong quarter

UBS stays positive on Academy Sports and Outdoors ([[ASO]] -1.8%) after taking in the company's Q4 earnings report. Analyst Michael Lasser: "We think elevated category demand for outdoor activities and home fitness continued through the holidays. Importantly, its 16.1% SSS was driven by strong performance in its non-legacy markets. Further, we think ASO has begun 2021 with strong momentum. Its 1Q is likely benefitting from additional government stimulus. Further, the company is seeing strong early readings in categories such as water sports that indicate the elevated demand for pursuing outdoor recreational activities should continue." While Lasser and team think ASO will face increasingly tough comparables, ASO is seen as well positioned to lap the period gracefully as it benefits from store refreshes, growing e-commerce capabilities and a return of team sports.The risk-reward profile on the retailer is called compelling at the current share price level. A Buy rating is reaffirmed

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Academy Sports lands higher price target from UBS after strong quarter