DA Davidson raised the firm’s price target on Dick’s Sporting to $250 from $183 and keeps a Buy rating on the shares. The analyst cites the company’s earnings beat and above-consensus guidance, and the firm believes that the better than expected results should largely put to rest the question of whether margins are going back to pre-COVID levels or if they are structurally higher. The firm adds that the company’s new store economics disclosures lend credence to their stepped-up store growth plans as they “innovate from a position of strength”.
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