Hibbett price target raised to $82 from $73 at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez raised the firm’s price target on Hibbett to $82 from $73 and keeps an Outperform rating on the shares ahead of the Q4 report. The firm says that while near-term demand is likely choppy, Hibbett is well positioned with a differentiated retail footprint in small and underserved markets. The increased target multiple is due to higher valuations for consumer stocks and implies Hibbett trends back to its pre-pandemic valuation, the analyst tells investors in a research note.