Morgan Stanley Reiterates Equal-Weight Rating on Dick's Sporting Goods on Disappointing 4Q Results, '13 Guidance

In a report published Monday, Morgan Stanley reiterated its Equal-Weight rating on Dick's Sporting Goods

. Morgan Stanley noted, “We see risk/reward as fairly balanced and valuation as fair at 16-17x 2013 EPS guidance after the decline in price today. Positives include continued strength in performance apparel and strong execution against competition. Negatives include tough comps, irregular weather patterns, and online competition.” Dick's Sporting Goods closed on Friday at $50.60.