Dick's Sporting Goods (DKS) PT Lowered to $30 at BofA/Merrill Lynch on 3Q Report; '2018 EPS Reset for Investsments & Challenging Environment'
BofA/Merrill Lynch lowered its price target on Dick's Sporting Goods (NYSE: DKS) to $30.00 (from $35.00) while maintaining a Neutral rating, following the company's third quarter earnings report.
Analyst Robert Ohmes notes a reduced target on the shares, as management delivered disappointing 2018 outlook well below estimates, citing a challenging retail environment and increased spending initiatives in e-commerce, in-store technology, store payroll, team sports HQ and price brands, despite the company reporting third quarter earnings per share and revenue results above consensus projections