Dick's Sporting (DKS) Target, Estimates Trimmed at Janney Capital

Janney Capital analyst Eric Tracy reiterated a Buy rating on Dick's Sporting Goods (NYSE: DKS) while trimming the fair value target to $61.00 (from $63.00). The analyst said views the near-term setup as favorable although long-term questions have not been fully addressed.

Tracy commented, "We remain constructive on shares of DKS following the company's investor day, with the belief that visibility to fundamentals and risk/reward remain decent over the next 12 months. That said, we also note some LT questions weren't fully addressed, in our view: 1) brands' DTC acceleration potentially cannibalizing DKS' share, 2) unit growth continues (albeit more measured), and 3) uncertainty to golf biz. As ecomm transitions in-house, investments should peak in FY16; we adjust our ests accordingly."

The firm tweaks down FY16 EPS to $3.52 from $3.66 on the heavier spend.

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 $57.62 yesterday.

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