Hibbett price target raised to $85 from $75 at BofA

BofA analyst Alexander Perry raised the firm’s price target on Hibbett to $85 from $75 and keeps a Buy rating on the shares after the company reported Q4 EPS of $2.91 that was above the firm’s recently lowered estimate, but below consensus at $2.94. Same-store sales growth of 15.5% was slightly ahead of the firm’s 15.0% forecast, but below implied guidance, BofA added. The firm is lowering its FY24 EPS estimate to $9.70 from $10.10 but raising its price target as it rolls forward its valuation to FY25. The firm sees a "compelling valuation," especially compared to peers, the analyst added.