SunTrust Robinson Humphrey Raises Price Target on Dick's Sporting Goods (DKS) Following 2Q15

SunTrust Robinson Humphrey reiterated a Neutral rating on Dick's Sporting Goods (NYSE: DKS), and raised the price target to $58.00 (from $57.00), following the company's 2Q15 earnings results. EPS of $0.77 topped the Street’s $0.75 estimate, as well as the guided range ($0.73-$0.76). Full-year EPS guidance was raised by a penny on both the top and bottom ends.

Analyst David Magee commented, "DKS' 2Q EPS of $0.77 came in ahead of our/Street estimates, thanks, in part, to a better-than-expected gross margin. E-commerce (+25% YoY) was strong and drove the entirety of the YoY comp growth (+1.2%). Full-year EPS guidance was raised by a penny on both the top and bottom ends. While we are modestly raising our 2015 estimate and PT to $58 (from $57), we are maintaining our Neutral rating, given overall lackluster team sports participation rates, competitive pressures, and valuation."

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 $52.61 yesterday.

You May Also Be Interested In

• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
• Johnson & Johnson upgraded to Buy at HSBC on 'asymmetric risk and attractive upside'
• Rentokil Initial (RTO) PT Lowered to $35 at Oppenheimer