Dick's Sporting Goods To Gain From Diverse Assortment Of National Brands, Rollout Of New Store Concepts: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman upgraded the forecast for Dick's Sporting Goods Inc (NYSE:DKS) to $245 from $195, citing diverse national brands, new store concepts, and solid Q4 FY23 sales growth of 7.8% to $3.876 billion, beating estimates. Feldman highlights the company's strong position in the $140 billion sporting goods industry and raises the 2024 EPS estimate to $13.25 and 2025 EPS to $14.31. Despite the positive outlook, DKS shares dropped 3.01% to $210.29.
March 15, 2024 | 6:05 pm
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Dick's Sporting Goods Inc's forecast was upgraded by Telsey Advisory Group to $245 from $195, backed by strong Q4 FY23 performance and strategic market positioning.
The upgrade in forecast by Telsey Advisory Group reflects a strong confidence in Dick's Sporting Goods' market strategy and recent performance. Despite the short-term price drop, the analyst's positive outlook, based on diverse brand offerings and new store concepts, suggests potential for stock price appreciation in the near term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100