Imperial Capital Analyst Raises Price Target for ClubCorp Holdings Inc (MYCC)

Analyst George Kelly from Imperial Capital reiterates his In-Line rating for ClubCorp Holdings Inc (NYSE:MYCC) with a raised price target of $14, marking a 5.5% decline from current levels. The rating comes after the company missed revenues in the 2Q. Kelly notes that this miss was in part due to with Houston area clubs, which accounts for 10% of revenue, experiencing heavy rains and flooding causing revenues to decline 2% yoy. Management at ClubCorp kept its expectations for 2016 of revenue between $1,085mn to $1,105mn.

According to TipRanks, Kelly has a success rate of 80% with an average return of 11.9% per recommendation.

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