Callaway Golf (ELY: NYSE) shares were raised to a buy rating from one prominent Wall Street analyst.

Among the reasons cited for the upside on a trade are stabilization in the golf industry from a year ago and a continued reduction its cost structure by management. Hayley Wolff of Rochdale Securities also believes the company will shift its premium ball manufacturing overseas and move its domestic club assembly, currently in Carlsbad, CA., to Mexico, which will provide further cost savings to the business.

The analyst has covered the company for a long time with an outstanding track record. Last year she was the only one who was in front of Callaway’s rebate program for example