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Dick’s Sporting price target raised to $175 from $165 at Morgan Stanley
The Fly

Dick’s Sporting price target raised to $175 from $165 at Morgan Stanley

Morgan Stanley analyst Simeon Gutman raised the firm’s price target on Dick’s Sporting to $175 from $165 and keeps an Overweight rating on the shares, citing increased 2023 and 2024 EPS estimates following the company’s Q4 report. The firm notes its multiple is in-line with Dick’s historical range and represents about a 20% re-rating higher from where it is currently trading, which it argues is warranted given structural changes made to the company’s operating model.

Published first on TheFly

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