DKS' Edge Over Peers: B Of A Analyst On Higher Household Income And Challenges Ahead In H2 Comps
Portfolio Pulse from Lekha Gupta
Bank of America Securities analyst has raised the price target for Dick's Sporting Goods Inc. (DKS) from $170 to $180, maintaining a Buy rating. The analyst also increased the Q2 EPS estimate to $3.83 and expects same-store sales growth of +4.0%. The company is set to report Q2 results on August 22. Despite expecting H2 comps at negative low-single-digits%, the analyst believes DKS has a stronger buffer compared to peers due to higher median household income.
August 14, 2023 | 6:49 pm
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The price target for DKS has been raised by a BofA Securities analyst, who also increased the Q2 EPS estimate and expects higher same-store sales growth. Despite expecting negative H2 comps, DKS is believed to have a stronger buffer compared to peers.
The analyst's bullish stance on DKS, along with the raised price target and increased Q2 EPS estimate, indicates positive sentiment towards the company. This could potentially drive the stock price up in the short term. However, the expected negative H2 comps could pose a challenge.
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