UPDATE: Dick's Sporting Goods (DKS) PT Raised at Morgan Stanley, Bull Case of $150 Within Reach

Morgan Stanley analyst Simeon Gutman raised the price target on Dick's Sporting Goods (NYSE: DKS) to $120.00 (from $115.00) expecting another beat and raise quarter.

The analyst reiterated an Overweight rating, stating "Our existing bull case of $150 is within reach." "We believe DKS can move higher on 1) continued upward revisions, and 2) an undemanding multiple (~15x 2022 P/E vs retail peers in mid-to-high teens). R/R skews positive with ~15% upside to our $120 price target and ~40/~30% upside/downside in our bull/bear cases.

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