Argus raised the firm’s price target on Dick’s Sporting to $165 from $150 and keeps a Buy rating on the shares. The analyst cites the company’s Q3 earnings beat last month and the management’s view that participation in outdoor activities has increased, along with belief that consumers have a greater preference for athletic apparel. Dick’s Sporting’s private-brand portfolio, representing approximately 14% of total sales, is also doing well, with gross margins that are 600-800 basis points above national brands, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DKS:
- Dick’s Sporting becomes official sporting goods retailer of Notre Dame Athletics
- Dick’s Sporting becomes official porting goods retailer of Notre Dame Athletics
- NKE, ADDYY Stocks: Upstart Brands Pose Challenges
- Dick’s Sporting price target raised to $145 from $140 at Telsey Advisory
- Dick’s Sporting price target raised to $154 from $134 at Truist