Dick’s proving can ‘punch in a higher weight class,’ says Morgan Stanley

Morgan Stanley said Dick’s Sporting Goods’ Q4 results and initial FY23 guidance continue to prove that the company’s sales and margins are normalizing at a higher level. While there are still some questions on where gross and EBIT margins will level out, Dick’s is proving it can "punch in a higher weight class," said the analyst, who has an Overweight rating and $165 price target on the shares.