Goldman Sachs Adds Dicks's Sporting Goods (DKS) to the Conviction Buy List

Goldman Sachs is adding Dicks Sporting Goods (NYSE: DKS) to its Conviction Buy list with a price target of $49 (up from $45) on higher estimates.

Keys to the story are strong unit growth, robust new space productivity, and ongoing margin drivers, Goldman said.

On the new $0.50 per share annual dividend, the firm comments, "the initiation of a dividend represents a shift to shareholder-friendly capital allocation."

The firm stands near the 2012 EPS Street high at $2.44. While Q4 may be rocky, they see sales in-line with forecasts and good momentum in Q1 with new drivers helping maintain its margin trajectory.

Goldman also said valuation is appealing for a long-run growth name.

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 $41.41 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BofA Securities Upgrades Tesla (TSLA) to Buy on wind up of positive catalysts
• Spectral AI, Inc. (MDAI) Appoints Erich Spangenberg as CEO of Spectral IP, Explores Potential Spin-Off
• Piper Sandler Upgrades SmartFinancial (SMBK) to Overweight 'on Risk/Reward Dynamic for Clean Bank Under TBVPS'