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UPDATE: Canaccord Genuity Raises PT to $59 on Dick's Sporting Goods On Strong Q3 and Guidance

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Canaccord Genuity reiterated its Buy rating on Dick's Sporting Goods (NYSE: DKS) and increased its price target from $58 to $59.

Canaccord Genuity commented, "DKS reported a clean Q3 beat of $0.40 vs. our/consensus of $0.36/$0.37. Impressive gross margin expansion of 123bps coupled with a stronger comp (+5% vs. our +4% est.) drove the beat. In our view, DKS is outperforming the competitive set despite choppy trends in retail. Moreover, we believe DKS is well positioned to drive significant upside to Q4 comp and EPS should winter arrive."

Dick's Sporting Goods closed at $51.43 on Tuesday.

Latest Ratings for DKS

DateFirmActionFromTo
Sep 2014Wells FargoDowngradesOutperformMarket Perform
Aug 2014CitigroupMaintainsBuy
Aug 2014UBSMaintainsBuy

View More Analyst Ratings for DKS
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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