Williams Trading downgrades Dick’s Sporting on store traffic concerns

Williams Trading analyst Sam Poser downgraded Dick’s Sporting Goods to Hold from Buy with a price target of $132, down from $145. The analyst says the engagement in Dick’s and Public Lands stores "does not hold up to the superior digital engagement of both banners." Unless corrected, customers will be disappointed visiting stores after having very good digital experiences with both banners, the analyst tells investors in a research note. Williams thinks Dick’s Q4 results could fall a bit short of consensus estimates and its downgrade is based on long term concerns that store traffic will decelerate as consumers become disappointed with the service in the stores.