Dick's Sporting Goods Benefits From 'Strong Demand,' Says This Analyst

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on the shares of Dick's Sporting Goods Inc DKS with a price target of $125.00 (10.7% upside).
Feldman said DKS had a solid 2Q22 EPS beat, with both sales and profitability coming in stronger than expected.
The guidance raise despite numerous macroeconomic uncertainties implies Dick's has seen a less pronounced sales deceleration so far in 3Q22.
Related: Dick's Sporting Goods Boosts FY22 EPS Forecast Post Q2 Beat
The analyst noted the company is benefiting from strong demand for fitness and outdoor equipment and athletic apparel & footwear.
Feldman continues to view Dick's as a long-term share gainer through its unique assortment of national brands, differentiated private brands, and e-commerce, helped by its off-mall locations.
Price Action: DKS shares are trading higher by 2.27% at $112.88 on the last check Tuesday.