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☆ LVMH strikes Paris Olympic Games sponsorship deal
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

PARIS, July 24 (Reuters) - Luxury giant LVMH (LVMH.PA) unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event. The group will also sponsor athletes, including French swimmer Leon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH said. Terms of the deal, which was negotiated by Antoine Arnault, one of the five children and heirs of LVMH Chairman and CEO Bernard Arnault, were not revealed. "The Games are an opportunity to make France shine," Antoine Arnault said as he made the official announcement. The run-up to an Olympic Games can become mired in global geo-politics and controversies over domestic matters can attract scrutiny, such as China's rights record ahead of the Beijing Games.

Persons: Louis Vuitton, Dior, Moet Hennessy, Chaumet, Leon Marchand, LVMH, Antoine Arnault, Bernard Arnault, Mimosa Spencer, Silvia Aloisi, Tomasz Janowski, Richard Lough Organizations: Louis, Olympic, Beijing Games, HK, Toyota, Thomson Locations: Paris, France, Belarus

☆ SlamBall: The sport ahead of its time is making a long-awaited comeback
▼ + stars: | 2023-07-14 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +7 min

“SlamBall is special because it’s a brand that has lived on in social media in a really powerful way. Making its comeback for a 2023 summer league, SlamBall will be back on TV screens, via ESPN, and hopes to attract new viewers. The sport has lived on via social media clips of crazy moves. SlamBall LLCDreams becoming reality“I had this recurring dream all the time,” Gordon says of the origins of the sport. “Social media didn’t exist, Twitter didn’t exist, TikTok didn’t exist.”With incredible dunks like George Byrd's on Kevin Cassidy, SlamBall has huge viral potential.

Persons: Mason Gordon, SlamBall, ” Gordon, ”, Gordon, “, Gerard Gordeau, Taylor Wily, Markus Boesch, Stan “, ” Fletcher, Fletcher, ‘, Stan, Jim Heath, “ I’m, Fletcher’s SlamBall, Michael Jordan, Julius “ Dr, J ” Erving, Mike Tollin, SlamBall’s, Ben Peppi, George Byrd's, Kevin Cassidy, Pat Ecclesine, BringBackSlamBall, Pat Ecclesine ‘, “ There’s, it’s Organizations: CNN, NFL, NBA, MLB, MLS, CNN Sport, ESPN, UFC, Mandalay Sports Media, Twitter, ’ Locations: Las Vegas, Los Angeles

☆ Roger Federer hopes Rafael Nadal ‘can go out on his own terms’
▼ + stars: | 2023-07-05 | by ( Christina Macfarlane | Matias Grez | ) edition.cnn.com time to read: +6 min

CNN —Tennis great Roger Federer says he hopes his former rival Rafael Nadal can retire from the sport “on his own terms” following the Spaniard’s recent struggles with injury. Nadal hasn’t played competitive tennis since injuring a hip muscle during his second-round Australian Open defeat by Mackenzie McDonald in January. It was an emotional farewell for Roger Federer at the Laver Cup. Roger Federer and Rafael Nadal have gave tennis fans one of the sport's greatest rivalries. Susan Mullane/USA Today Sports/Reuters“I think the coaching on the tour like we know it I think is difficult for me,” Federer said.

Persons: Roger Federer, Rafael Nadal, Nadal hasn’t, Mackenzie McDonald, Federer, Nadal, Julian Finney, Andy, Murray, Novak, Djokovic, ” Federer, CNN’s Christina Macfarlane, Ellie Goulding, “, Everybody, Borg, Pete, Sampras, Andre, Agassi, Rafa, Clive Brunskill, Pedro Cachín, –, Borg –, Roger Federer's, Matthew Childs, Reuters “, they’re, Stefan Edberg, it’s, Carlos Alcaraz, Susan Mullane, ”, you’re, he’s Organizations: CNN, Tennis, Laver, Getty, O2, Djokovic, Wimbledon, Reuters, USA, Sports Locations: London, Swiss, Wimbledon, SW19, Paris, Switzerland

☆ Nike's biggest threat is coming from young brands like Hoka and On Running
▼ + stars: | 2023-07-03 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Emerging brands like Hoka and On are beginning to compete against sneaker giant Nike. Analysts say they're concerned Nike's over-distribution is leading to "lifestyle sneaker fatigue." In four years, Hoka and On spent the equivalent of what Nike spends in two weeks. "Running has been a competitive battlefield lately with more and more brands joining the market," Donahoe said, but Nike saw 10% growth for its running footwear business over the past year, he added. "There is no newness coming out of Nike," Sam Poser, an analyst at Williams Trading said earlier this year.

Persons: —, TD Cowen, John Donahoe, Donahoe, Locker, Sam Poser Organizations: sneaker, Nike, Analysts, Service, Williams Trading

☆ Roku will air Formula E races as part of the streamer's first live sports deal
▼ + stars: | 2023-06-27 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +3 min

Roku will become the U.S. streaming home of Formula E, the electric vehicle-powered auto racing series, with both live and on-demand replays of races. Starting with the upcoming season, the Roku channel will host 11 ABB FIA Formula E World Championship races, it said in a press release. Beginning in January, five races will also air live on CBS and simulcast on Paramount+, which will be accessible through Roku. Debuting at the Olympic Park in Beijing in 2014, Formula E's races take place worldwide, and the first fully electric racing series currently features 12 teams and 24 drivers. Last year, the company said races reached a record high of 216 million live viewers, up 10% from the previous season.

Persons: Roku, Aarti Dabas, — CNBC's Lillian Rizzo Organizations: Formula, CBS, ABB FIA Formula, Paramount, Formula E, Netflix, Research, Disney, ESPN, Comcast, NBA, Turner Sports, CNBC Locations: U.S, Portland , Oregon, Beijing

☆ Australia recommends testosterone limits for transgender athletes in elite female sport
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, June 16 (Reuters) - Australia's peak sports authority has recommended testosterone limits for transgender athletes seeking to compete in elite female competitions as part of guidelines on inclusion released on Friday. The 'Transgender & Gender-Diverse Inclusion Guidelines for HP (high-performance) Sport' recommends transgender athletes have plasma testosterone levels of less than 2.5 nanomoles per litre for two years prior to competition. Transgender inclusion in female competition has become one of the most contentious and divisive issues in sport. Australia's guidelines come months after the national basketball federation rejected a transgender athlete's application to play in a semi-professional league, drawing criticism from LGBTI groups. Eligibility requirements for transgender athletes in elite female competition vary broadly in Australian sports.

Persons: Ian Ransom, Peter Rutherford Organizations: MELBOURNE, Australian Sports Commission, HP, AIS, Australian Institute of Sport, ASC, rugby, Australian Football League, Australian Rules, Cricket Australia, Thomson Locations: Melbourne

☆ The Week Saudi Arabia Tightened Its Grip on Global Sports
▼ + stars: | 2023-06-08 | by ( Joshua Robinson | Andrew Beaton | ) www.wsj.com time to read: 1 min

When Saudi Arabia first decided to exert its influence on global sports around five years ago, the Kingdom wasn’t even the biggest player in its own region. It hosted an occasional tennis exhibition or second-tier motor racing event. The future seemed to belong to its neighbors, the United Arab Emirates and Qatar.

Organizations: United Arab Locations: Saudi Arabia, United Arab Emirates, Qatar

☆ Saudi Arabia's cold-blooded crown prince keeps winning
▼ + stars: | 2023-06-08 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +3 min

The recent PGA-LIV golf merger is the latest example of growing Saudi influence on sports. Originally viewed as a deep-pocketed but unserious distraction from the PGA Tour, they effectively muscled into the picture through sheer financial willpower. The new PGA Tour might look a whole lot like the old one, except with a far wealthier outside party controlling the purse strings. And that's kind of been the Saudi strategy as Crown Prince Mohammed bin Salman has expanded his influence over multiple sports worldwide. Detailed below are the six recent high-profile examples of how the Saudi PIF keeps winning:

Persons: Mohammed bin Salman, LIV, Prince Mohammed bin Salman, Prince Mohammed's, Jamal Khashoggi, Saudi PIF Organizations: Saudi Public Investment Fund, Morning, PGA, LIV, PGA Tour, English Premier League team, Saudi, league, Prince, CIA Locations: England, Saudi, Saudi Arabia

☆ Opinion: The impact of PGA Tour-LIV Golf deal goes far beyond sports
▼ + stars: | 2023-06-08 | by ( Aaron David Miller | ) edition.cnn.com time to read: +8 min

Yet, these days, the sad truth is that Saudi Arabia has no need for sportswashing. And in December 2019, Saudi Arabia became president of the G-20, hosting a virtual summit because of the Covid-19 pandemic. The golf deal is a reminder that “money money money” is a formidable diplomatic political tool. A US brokered deal between Israel and Saudi Arabia would be a powerful counterpoint to China’s recently facilitated Iranian-Saudi détente. Of course, one can hardly be shocked to learn that where’s there’s money, golf and Saudi Arabia, there just might be a Trump angle as well.

Persons: Aaron David Miller, ” Miller, LIV Golf, Joe Biden’s, it’s, we’ve, you’re, Jamal Khashoggi, , Cristiano Ronaldo, Sen, Richard Blumenthal, Blumenthal, Biden, Saudi Crown Prince Mohammed bin Salman, It’s, LIV, can’t, Zelensky, Bashar al, Assad, Mahmoud Abbas, ”, Jake Sullivan, Antony Blinken, Trump, Eric Trump, Facebook George Orwell Organizations: Carnegie Endowment, International Peace, Democratic, Republican, CNN, PGA, English Premier League soccer, One, LIV, PGA Tour, Washington Post, Saudi Crown, MBS, Arab, US National, Trump, Twitter, Facebook, Saudi Locations: East, Saudi, United States, Saudi Arabia, Washington, Berlin, Sochi, Davos, Connecticut, China, Russia, Ukraine, Iran, Israeli, Israel, Iranian, Britain

☆ Saudi Arabia Relishes a Triumph That Transcends Sports
▼ + stars: | 2023-06-07 | by ( Vivian Nereim | Ahmed Al Omran | ) www.nytimes.com time to read: +1 min

When a Saudi-backed upstart golf league began recruiting high-profile players from the top U.S. circuit, the American tour’s commissioner lamented a “foreign monarchy that is spending billions of dollars in an attempt to buy the game of golf.”The commissioner, Jay Monahan, who heads the PGA Tour, sniped at players who left for the new league, LIV Golf, hinting at the stain that the Saudi government’s human rights violations would leave on them. But on Tuesday, Mr. Monahan sat smiling with the head of the Saudi sovereign wealth fund to announce that the PGA Tour and LIV Golf were forming what promises to be a lucrative partnership. “I recognize that people are going to call me a hypocrite,” Mr. Monahan said later. “But circumstances do change.”The deal, if it goes forward, represents an enormous victory for Saudi Arabia and its de facto leader, Crown Prince Mohammed bin Salman, in a bid to become a major player in global sports, giving the kingdom considerable sway over the game of golf. But the significance of the moment transcends sports, as Saudi Arabia under Prince Mohammed seeks greater political influence in the Middle East and beyond.

Persons: Jay Monahan, sniped, LIV Golf, Monahan, LIV, “, Mr, Prince Mohammed bin Salman, Prince Mohammed Organizations: PGA Locations: Saudi, Saudi Arabia

PinnedThe PGA Tour and LIV Golf, the insurgent league bankrolled by billions of dollars from Saudi Arabia’s sovereign wealth fund, said on Tuesday that they had agreed to a merger, ending a bitter and costly fight for supremacy of men’s professional golf that had divided top players, everyday fans and corporate sponsors. Now, by merging with the PGA Tour, it has gained a foothold that guarantees it outsize influence in the game’s future. The PIF also will have right of first refusal on new investments in the merged tour, according to the statement announcing the merger. “Going forward, PIF will have the exclusive right to further invest in the new entity, including a right of first refusal on any capital that may be invested in the new entity, including into the PGA Tour, LIV Golf and DP World Tour.” The PGA Tour will appoint a majority of the board, the statement said, and hold a majority voting interest in the combined entity. In a memorandum to PGA Tour players on Tuesday, Monahan said the wealth fund would have a minority position in the new for-profit company that will control men’s golf.

Persons: LIV Golf, bankrolling LIV, “, PIF, LIV, Jay Monahan, we’ve, LIV . Monahan, Yasir al, Monahan, Brooks Koepka, Dustin Johnson, Phil Mickelson, LIV signees, Graeme McDowell, “ It’s, ” Organizations: PGA, Premier League soccer, Public Investment Fund, PGA Tour, ”, Public Investment, U.S Locations: Saudi, Riyadh, Saudi Arabia

The Olympic wrestlers arrived on the banks of the sacred river Ganges late on Tuesday for what they had announced as a final act of desperation. Two days before, the police had violently dismantled their protest camp in New Delhi and dragged them off to detention, striking a blow against their protracted effort to bring to account a politically powerful sports official they accuse of serial sexual harassment of female wrestlers. Now, the athletes would throw their hard-earned medals, including two Olympic bronzes for a large nation curiously bereft of global sporting laurels, into the river and then begin a hunger strike. “These medals decorating our necks no longer mean anything,” they said in a statement, adding that the authorities were “going after the victims” to force them to end their protest. “What is the point of life when you compromise on dignity?” the statement read.

Persons: ” Organizations: Olympic Locations: New Delhi

☆ Tiger Woods is accused of sexual harassment by ex-girlfriend, according to court document
▼ + stars: | 2023-05-07 | by ( Jacob Lev | ) edition.cnn.com time to read: +3 min

CNN —Erica Herman, who was a longtime girlfriend of professional golfer Tiger Woods, has accused the 15-time major champion of sexual harassment, according to a court filing by Herman’s attorney in Florida on Friday. Woods is accused of pursuing a sexual relationship with Herman while she worked for him and then forcing her to sign a non-disclosure agreement or she’d be fired from her job, according to the document. The document also alleges a “scheme” used against Herman last year where Woods asked her to pack for a weekend getaway to the Bahamas. In an earlier briefing, Herman cited a statute that says plaintiffs in sexual harassment or assault disputes cannot be compelled to arbitrate those claims. The most recent suit, filed in March, Herman argues the 2017 agreement is not enforceable in part because of a new federal law invalidating arbitration clauses in sexual assault or sexual harassment cases.

☆ New AFL boss steals spotlight from Jones's Wallabies pitch
▼ + stars: | 2023-05-01 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

[1/2] Australia rugby union coach Eddie Jones poses with a ball, flanked by Wallabies players Andrew Kellaway and Reece Hodge at a news conference, at the Melbourne Cricket Ground, in Melbourne, Australia, May 1, 2023. Whether the AFL’s late press call was by coincidence or design, Rugby Australia officials were left fuming as the spotlight shifted away from their global sport to the homegrown game popular in only the nation's southern states. Appointed in January, Jones's second stint in charge of the Wallabies sees them much diminished from his first when he took them to the final of the 2003 World Cup on home soil. In 2002, Jones was the last Australian coach to win the Bledisloe Cup, the annual series against New Zealand. Rugby Australia will hope Jones can deliver Rugby Championship wins along with his sharp wit and penchant for a sound bite to help build more buzz around the fallen twice World Cup winners.

☆ Ding Liren of China Wins World Chess Championship
▼ + stars: | 2023-04-30 | by ( Dylan Loeb Mcclain | ) www.nytimes.com time to read: +1 min

Ding Liren of China won the world chess championship in a tiebreaker on Sunday, defeating Ian Nepomniachtchi of Russia to become the first Chinese man to hold the world title. Ding’s victory is the latest high point in chess for China, a rising power in the game. The country, which once banned chess as a symbol of a decadent West, now holds both the men’s and women’s world championships. Chinese users, full of pride and relief after two anxiety-filled weeks, celebrated the championship even as some admitted to their ignorance of how to play chess. Nearly all agreed, though, on the weight of the moment.

☆ Durant signs 'lifetime contract' with Nike
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

April 28 (Reuters) - Phoenix Suns' Kevin Durant has signed a 'lifetime contract' with sportswear giant Nike, the NBA star said on Friday, following in the footsteps of greats Michael Jordan and LeBron James as the only basketball players to have lifetime deals. Durant, 34, has been with Nike since he made his NBA debut in 2007 -- the season he won the Rookie of the Year award -- and has released 15 different pairs of basketball sneakers. "When I first signed with Nike, I couldn't have dreamed of how far we'd go in this partnership. We've done amazing work creatively and philanthropically," Durant, a twice NBA champion and 13-times All Star, said in a statement via Boardroom. Nike has supported Durant's involvement in grassroots basketball by helping refurbish courts in communities across the world through the Durant Family Foundation.

☆ Leaked memo reveals Disney's new finance structure as more layoffs loom, with a reported 15% of entertainment staffers to be cut
▼ + stars: | 2023-04-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

Disney's chief financial officer, Christine McCarthy, named a new finance team pulling together staff from both Disney Entertainment and ESPN. McCarthy shared the details with staff this week, naming Bryan Castellani as the new chief financial officer of Disney Entertainment and ESPN. Under Castellani, Lukas Wickart will continue to oversee finance for direct-to-consumer streaming business Disney+, ESPN+, Hulu, and Star. Karen Sack will oversee finance for our entertainment television businesses, including TV studios and ABC News finance, marketing, and networks planning. Jeff Grenn will oversee segment consolidation for Disney Entertainment, and finance in support of Aaron LaBerge's technology organization across Disney Entertainment and ESPN.

☆ Australia and New Zealand mark 100-day countdown to Women's World Cup
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +4 min

"But this women's tournament is not just about football, it's about celebrating women's sports and women's empowerment all over the world." "Currently, only 40% of football facilities nationwide are classified as female-friendly," Football Australia said in a statement. 'UNITY BEAT'New Zealand is staging its third global sporting event in less than two years, having hosted the women's Rugby World Cup and women's Cricket World Cup last year. Rugby World Cup organisers hailed record crowds as New Zealand's Black Ferns swept to the title last November. According to a FIFA report, some 1.12 billion viewers tuned into the 2019 Women's World Cup in France where the U.S. won their fourth title and their second in succession.

☆ Meet Sonny Vaccaro, the executive credited with signing Michael Jordan in Ben Affleck's new movie 'Air' and the self-proclaimed 'savior of Nike'
▼ + stars: | 2023-04-07 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

Vaccaro, 83, was a key figure in Nike's push to sign Michael Jordan in 1984. No one in his family went to college, Vaccaro said in an interview over a pancake breakfast in 2021. Matt Damon plays Sonny Vaccaro in the new "Air" movie about how Nike signed Michael Jordan. "The signing of Michael Jordan, yeah, success has a thousand fathers, and failure is an orphan," Knight told USA Today in 2015. "A lot of people want to take credit for signing Michael Jordan, most obviously Sonny Vaccaro."

☆ Adidas event shut down by protestors as factory wages become hot-button issue for the sneaker and garment industry
▼ + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com time to read: +5 min

Protestors on Thursday disrupted an event featuring Rupert Campbell, Adidas' top US executiveThe protestors allege Adidas has not paid Asian contract factory workers and demanded payment. A speaker rose roughly 40 minutes into the one-hour event and demanded Adidas pay wages he alleged are owed to contract factory workers in countries including Cambodia and Indonesia. The $11.7 million allegedly owed to Adidas workers comes from a report produced by trade unions and other industry groups. Before protestors disrupted the event, Adidas North American President Rupert spoke about his childhood and his career path. Ballinger noted several recent instances of factory workers getting restitution for unpaid wages, including at a Nike contract factory in Cambodia.

☆ A 27-page report breaks down where the money is flowing in sports tech and the investors to watch. Here were 5 key takeaways.
▼ + stars: | 2023-03-22 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Investment bank Drake Star broke down dealmaking in 2022 and what it means for the year ahead. Sports tech M&A activity in 2022, from Drake Star's Global Sports Tech Report 2022. Drake Star Global Sports Tech Report 2022The fourth quarter saw a surge in M&A volume with 67 deals, the most in the sector's recent history. More sports tech companies could explore public listings in the second half of the year. "Some of the IPO ready sports tech companies are expected to explore IPO/SPAC listings."

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Snowflake, Salesforce, Nio, Nvidia & more
▼ + stars: | 2023-03-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan downgrades Nio to neutral from overweight JPMorgan said it sees too many challenges after the Nio's earnings report on Wednesday. JPMorgan downgrades Dollar Tree to neutral from overweight JPMorgan said it sees too many macro headwinds for the discount retailer. Morgan Stanley upgrades Pinduoduo to overweight from equal weight Morgan Stanley said the ag-tech company is a "long-term growth story." Morgan Stanley reiterates Liberty Formula One as overweight Morgan Stanley said it's bullish on shares of the auto racing company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said competitors can't keep up after Tesla's investor day on Wednesday.

☆ Moody's cuts Adidas credit rating to A3 after profit warning
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +1 min

Feb 17 (Reuters) - Moody's on Friday dowgraded Adidas' (ADSGn.DE) long-term issuer rating one notch to A3 from A2, citing the sportswear maker's recent profit warning, and left the door open to a further cut as it maintained a negative outlook on the company. Adidas warned on Feb. 9 that it could plunge to a loss this year for the first time in three decades, in the latest downgrade triggered by its split from Kanye West, as it raised the possibility of entirely writing off the inventory of the rapper and fashion designer's Yeezy brand. Moody's said that even though it had expected a weak operating performance from Adidas in the next 12 to 18 months, its actual guidance was "well below Moody's expectations." While it described the company's new outlook as conservative and noted its leading position in the global sportswear industry and strong brand, Moody's said its negative outlook reflected "the substantial uncertainty around the near-term improvements of adidas' credit metrics and liquidity profile following the release of a very weak earnings guidance for 2023." ($1 = 0.9373 euros)Reporting by Tristan Chabba in Gdansk Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ 'Not so rosy': Russian athletes face prospect of Olympics ban
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

[1/3] Olympic Rings are pictured in front of The Olympic House, headquarters of the International Olympic Committee (IOC) at the opening of the executive board meeting of the International Olympic Committee (IOC), in Lausanne, Switzerland September 8, 2022. Since the International Olympic Committee (IOC) opened the door for Russian and Belarusian athletes to compete as neutrals at the 2024 Paris Games, calls to have them excluded have snowballed. At an indoor track in northeastern Moscow on Friday, hurdler Sergey Shubenkov said he was avoiding reading the news about Russia's Olympic prospects. The measure was taken as part of wider sanctions against the Russian athletics federation, which has been suspended since 2015 over doping offences. "I think those who don't support (Russia's special military operation in Ukraine) have already left.

☆ With record Super Bowl wagers expected, here are Wall Street's top sports-betting stocks
▼ + stars: | 2023-02-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The names were a member of Roundhill Sports Betting & iGaming ETF , VanEck Gaming ETF , and/or iBet Sports Betting & Gaming ETF . Of the gaming companies on the list, Caesars Entertainment has the most upside to the average analyst price target, 26.2%. Caesars gaming empire includes Caesars Sportsbook, which came out of the company's 2021 $4 billion acquisition of William Hill . MGM Resorts follows with 23% upside to the average analyst price target. The stock, which has gained nearly 6% so far this year, has 11% upside to the average analyst price target.

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