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Be Careful Betting On More Upside For Callaway Golf

2014-11-05 14:58:10| Footwear - Topix.net

Golf equipment manufacturer Callaway Golf posted better-than-expected profitability in its latest fiscal quarter, thanks in large part to ongoing cost savings from its 2013 restructuring program. With management expecting top-line growth in the mid-single digit range, Callaway Golf seems pricey at a forward P/E multiple of 45 and doesn't look like a good bet for investors.

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