Oppenheimer Has Outperform Rating On Dick's Sporting Goods

Oppenheimer & Co. is out with a research report on Dick's Sporting Goods

and it has an Outperform rating and a $48 price target on shares. In a note to clients, Oppenheimer & Co. writes, "Yesterday we met with senior management of Outperform-rated Dick's Sporting Goods at the company's headquarters near Pittsburgh. DKS does not discuss business trends intra-quarter. The company reported Q2 (July) results last week. We view DKS as one of the most compelling unit growth stories in the hardlines sector. The overall tone of management remains quite constructive. CFO Tim Kullman reiterated that the company's decision to modestly trim 2H11 sales guidance reflects a more cautious near-term outlook on the part of management and not indications of top line weakness at the chain lately. DKS continues to benefit significantly from ongoing product innovation in the sporting goods sector and is preparing to further accelerate the pace of new unit expansion next year." Shares of DKS gained $1.53 yesterday to close at $31.90, a gain of 5.04%.