Topgolf Callaway Brands: Undervalued Opportunity Amid 37.4% Rally

Topgolf Callaway Brands has seen a 37.4% gain since January and a 50.7% return over the last year, driven by updates on company strategy and new partnerships. However, the company's negative free cash flow indicates a rapid turnaround is expected. Our Discounted Cash Flow analysis suggests an intrinsic value of $111 per share, 88.9% higher than the current trading price, indicating potential undervaluation.