Dick’s Sporting price target raised to $220 from $150 at Loop Capital

Loop Capital raised the firm’s price target on Dick’s Sporting (DKS) to $220 from $150 and keeps a Hold rating on the shares. The company’s Q4 results were “impressive”, with better-than-expected top-line growth, healthy pre-tax margin expansion, and a sizable earnings beat to consensus expectations, the analyst tells investors in a research note. Loop adds that it was also “encouraged” by the strong new store economics that the management disclosed for the Dick’s House of Sport and next generation store formats as well as the company’s 10% dividend increase, though the firm continue to recommend the “much less expensive” Academy Sports and Outdoors (ASO) for investors seeking exposure to the sporting goods retailing sector.