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

Loading...
Loading...
  • 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.
  • RelatedDick'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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...