Goldman Sachs is adding Dick's Sporting Goods (NYSE: DKS) to its Conviction Buy List and moves its price target to $53 from $57.

The firm said risk surrounding a choppy 4Q and a tough 1Q guide have now played out. While worse than we expected, a lower multiple a higher core DKS store target, and a visible capital allocation strategy more than offset negatives, the analyst said.

The firm trimmed FY13 EPS from $2.58 to $2.53, FY14 from $2.92 to $2.85 and FY15 from $3.33 to $3.30. They introduced FY16 EPS of $3.88.

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 $45.11 yesterday, with a 52 week range of $44.06-$54.24.

Analyst EPS Change Analyst EPS View Analyst PT Change Hot Upgrades Upgrades

Monness, Crespi, Hardt Upgrades Dick's Sporting Goods (DKS) to BuyMarch 13, 2013 8:49 AM Needham & Company Maintains Buy on Dick's (DKS) Despite Choppy Q4, OutlookMarch 12, 2013 8:13 AM BMO Capital Upgrades Dick's Sporting Goods (DKS) to OutperformMarch 12, 2013 8:06 AM Buy Dick's (DKS) on Weakness - Sterne AgeeMarch 11, 2013 3:58 PM Dick's (DKS) Approves $1B Buyback PlanMarch 11, 2013 7:33 AM Dicks Sporting Goods, Inc. (DKS) Reports In-Line Q4 EPS; Issues Light OutlookMarch 11, 2013 7:32 AM