JPMorgan Adds Dick's (DKS) to Focus List, Boosts Target to $50

Shares of Dick's Sporting Goods (NYSE: DKS) are outperforming the broader equities market Tuesday as JPMorgan's Christopher Horvers added the stock to the firm's "Focus List."

The analyst believes the Street is currently underestimating the company's fourth-quarter and FY11 guidance offered on January 12th. Notably, Dick's shares rose more than 12 percent on that day.

Horvers maintains an Overweight rating on Dick's. The analyst boosted his price target from $45 to $50 Tuesday morning.

With shares of Dick's up 1.3 percent to $41.32 at last check, JPMorgan's new price target represents potential upside of about 21 percent. The DJIA is currently down 60 points while the S&P 500 is down about 4.2 points.

To track all the market-moving analyst action on shares of Dick's, visit our Analyst Ratings page.

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