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UPDATE: Credit Suisse Upgrades Dicks Sporting Goods

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The Vetr community has upgraded $DKS to 4-Stars. (Vetr)

In a report published Wednesday, Credit Suisse analyst Gary Balter upgraded Dicks Sporting Goods (NYSE: DKS) to Outperform from Neutral, raising its price target to $65.00 from $56.00.

According to the report, the upgraded follows a combination of easier comparisons, improvements in the already strong private label program, resets within the stores that should help comps and returns, a stronger focus on ROIC and still significant growth opportunities in Dick's and Field & Stream bode well for this stock.

“Dick's has one of the most impressive assortment of controlled brands/private label in retailing,” the report noted. “In 2012, 23% of sales were from brands controlled or owned by DKS, well known brands including Top-Flite, Maxfli, DBX, Field & Stream, and exclusive products made by major manufacturers. Dick's recently made some management changes as this business had stalled and we see it as an important driver going forward and another layer of protection from e-commerce penetration on margins.”

DKS closed Tuesday at $55.25 with shares trading up at 1.82 percent.

Latest Ratings for DKS

DateFirmActionFromTo
Mar 2016SusquehannaMaintainsPositive
Mar 2016Brean CapitalMaintainsBuy
Mar 2016Goldman SachsMaintainsNeutral

View More Analyst Ratings for DKS
View the Latest Analyst Ratings

Posted-In: Credit Suisse Gary BalterAnalyst Color Upgrades Analyst Ratings

 

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