Canaccord Genuity Reiterates a 'Buy' on Dick's Sporting Goods (DKS); Raising Estimates As DKS Outpaced Competition
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Price: $51.73 -0.48%
Rating Summary:
18 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
18 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade DKS Now!
Canaccord Genuity reiterates a 'Buy' on Dick's Sporting Goods (NYSE: DKS) price target of $58.00.
Analyst, Camilo Lyon, said, "While trends in sporting goods appear to have moderated from the torrid pace set in Q1, our recent channel checks indicate DKS trends are likely running at or above the high end of its 2-3% comp guidance. Given our checks and consistent innovation provided by key vendors (e.g. Under Armour (NYSE: UA) and Nike (NYSE: NKE)), we believe DKS can achieve, and likely beat, its Q2 comp guidance. As such, we are raising our Q2 comp/EPS estimate to 3.5%/ $0.64 from 3.0%/$0.63. With the central points to our thesis intact (e.g., comp outperformance and an improving gross margin throughout 2012) we reiterate our rating."
For an analyst ratings summary and ratings history on Dick's Sporting Goods click here. For more ratings news on Dick's Sporting Goods click here.
Shares of Dick's Sporting Goods closed at $48.58 yesterday, with a 52 week range of $29.10-$51.65.
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Analyst, Camilo Lyon, said, "While trends in sporting goods appear to have moderated from the torrid pace set in Q1, our recent channel checks indicate DKS trends are likely running at or above the high end of its 2-3% comp guidance. Given our checks and consistent innovation provided by key vendors (e.g. Under Armour (NYSE: UA) and Nike (NYSE: NKE)), we believe DKS can achieve, and likely beat, its Q2 comp guidance. As such, we are raising our Q2 comp/EPS estimate to 3.5%/ $0.64 from 3.0%/$0.63. With the central points to our thesis intact (e.g., comp outperformance and an improving gross margin throughout 2012) we reiterate our rating."
For an analyst ratings summary and ratings history on Dick's Sporting Goods click here. For more ratings news on Dick's Sporting Goods click here.
Shares of Dick's Sporting Goods closed at $48.58 yesterday, with a 52 week range of $29.10-$51.65.
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