Dick’s Sporting price target raised to $240 from $190 at Oppenheimer

Oppenheimer raised the firm’s price target on Dick’s Sporting to $240 from $190 and keeps an Outperform rating on the shares. The firm notes Dick’s Sporting continues to rally and again crossed its target. While “easy money” in Dick’s Sporting has likely been made, in coming quarters, shares should grind higher, fueled by further solidifying, underlying earnings power and incremental, albeit less robust multiple expansion, Oppenheimer argues. Its continued upbeat call on Dick’s Sporting is now generally longer-term-focused and less hinged to upcoming, nearer-term data points. Dick’s Sporting remains a standout among leading retailers for its consistent traffic driving and market share grabbing acumen and still relatively inexpensive equity, the firm adds.