Hibbett price target raised to $73 from $60 at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez raised the firm’s price target on Hibbett to $73 from $60 and keeps an Outperform rating on the shares. Hibbett’s Q3 EPS beat and 2023 guidance raise was a positive surprise in the choppy retail environment, pointing to a company that seems to be gaining share given good product allocations from vendors and one where operational execution has improved, the analyst tells investors in a research note. The firm sees Hibbett as well positioned with a differentiated retail footprint in small and underserved markets and its valuation remains attractive.