Dick's Sporting Goods (DKS) PT Raised to $38 at Nomura/Instinet

June 3, 2020 8:13 AM EDT
Get Alerts DKS Hot Sheet
Price: $95.92 +4.60%

Rating Summary:
    24 Buy, 22 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 73
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Nomura/Instinet analyst Michael Baker raised the price target on Dick's Sporting Goods (NYSE: DKS) to $38.00 (from $33.00) while maintaining a Neutral rating.

The analyst commented, "Dick's stock had the biggest peak-to-trough decline in our group during the early days of the pandemic, down 66%, as stores closed and most team sports were cancelled. However, the rebound in the stock price, up 122% from the bottom (as of midday on Tuesday), has also led our group, as Dick's mix is well suited to the stay-at-home spring and summer. In total, DKS is down 14% since the market peaked on February 19, underperforming the market (S&P 500 down 9%), but by far less then we had previously seen. FY20E EPS from $1.90 to $0.80; FY21E EPS from $3.41 to $3.75."

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