Susquehanna Defends Dick's (DKS) Amid Today's 7% Decline

An analyst at Susquehanna Friday afternoon issued a note arguing the nearly 7 percent sell-off in shares of Dick's (NYSE: DKS) is overdone.

The stock plunged at the open earlier following a warning from an analyst at Cleveland Research who believes the company's latest quarter is tracking to the low-end or possibly below its guidance range.

Susquehanna sees general promotional pressure as seasonal and actually lower based on a year-over-year comparisons.

The firm maintains its Positive rating and $47 price target.

With Dick's shares last trading at $37.88, Susquehanna's price target implies potential upside of about 24 percent.

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