Canaccord Genuity Reiterates a 'Buy' on Dick's Sporting Goods (DKS); Raising Estimates As DKS Outpaced Competition

June 21, 2012 8:58 AM EDT Send to a Friend
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Price: $48.85 +1.47%

Rating Summary:
    15 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
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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.


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