Dick’s Sporting price target raised to $150 from $130 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Dick’s Sporting to $150 from $130 but keeps a Hold rating on the shares. The analyst cites the company’s "solid" Q4 earnings beat that included better-than-expected comparable store sales growth as well as its more bullish than anticipated FY23 guidance. The firm maintains its view that investors "vastly underestimate" how much of Dick’s FY20-FY22 top-line and profitability gains were structural as consumers adopt healthier lifestyles while "vastly overestimating" how "discretionary" sporting goods truly are, adding however that its neutral stance reflects the stock’s valuation.