Citi Reiterates Buy on Dick's Sporting Godds

Citi is out with its report today on Dick's Sporting Goods DKS, reiterating Buy. In its report, Citi writes, "We remain constructive on the name based on 1) guidance for flat comps in 2H which appear conservative, 2) opportunities for accelerating square footage growth (which has already accelerated from +6% to 8%, but could increase), 3) continued progress in growing the e-commerce business (e-commerce represents around 6% of sales), 4) margins benefiting from, better inventory control and an increase in private brands and 5) negative investor sentiment going into Q3 earnings." Shares of DKS closed Friday at $37.21, up 3.22% from Thursday's close.