Bank Of America Predicts Strong Store Growth For Dick's Sporting Goods

According to Bank Of America, Dick's Sporting Goods

could exceed 2012 store growth target. Bank Of America said that it continues to believe the strong trends in the Athletic cycle support top-line growth and margin expansion. “We continue to view DKS as the best-positioned Sporting Goods retailer in the US, with potential for further EPS upside driven by: (1) solid comp sales, supported by higher-margin athletic footwear and apparel categories, (2) accelerating sq. ft. growth, and (3) continued gross margin expansion. Our PO remains $46, 20-21x our F13E EPS of $2.25.” Dick's Sporting Goods closed yesterday at $36.78.