Callaway To Be Helped By New Products, Olympics

NEW YORK (AP) — Even though demand is still soft, Callaway Golf Co.'s new products are spurring interest and getting people into its stores, an analyst said Friday.

Kristine Koerber of JMP Securities said in a client note that it's the right time to buy Callaway, prior to its new product launches and seasonally strong period.

She maintained a "Market Perform" rating.

Elsewhere, Todd Slater of Lazard Capital Markets said Callaway stands to gain from the inclusion of golf in the Olympics. On Friday the International Olympic Committee voted to add golf to the games in 2016.

Slater believes the Olympics could prompt some foreign countries and Olympic committees to invest more in golf equipment, facilities and training, which would raise demand for golf products and services. He reaffirmed a "Buy" rating.

Shares of Callaway Golf gained 35 cents, or 4.7 percent, to $7.87 in afternoon trading. The stock has traded in a range of $4.66 to $12.40 over the past year.