10:05 AM EST, 11/11/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month price target by $4 to $13, based on 11.0x our FY 26 EBITDA estimate and in line with the company's three-year average forward EV/EBITDA multiple. We maintain our FY 25 and FY 26 EPS estimates of -$0.04 and $0.20, respectively. Our price target increase was driven by an increase to our FY 26 EBITDA estimates, which we now believe will reach $550M in FY 26. MODG posted normalized FQ3 EPs of -$0.05 vs. $0.02, $0.17 above consensus estimates on revenues of $934M vs. $1.01B and $31M above estimates. FQ3 adjusted EBITDA declined 4.4% to $114M due mainly to the impact of tariffs on its Golf Equipment segment. MODG said the company saw an $8M impact from higher tariffs to its Golf Equipment segment in FQ3, which it was able to partially offset. Topgolf same venue sales increased 1% in the quarter, which was a significant positive for shares, in our opinion, after multiple quarters of high single-digit to low double-digit declines.