Goldman Sachs Upgrades Dick's Sporting Goods (DKS) to Conviction Buy
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.
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Shares of Dick's Sporting Goods closed at $45.11 yesterday, with a 52 week range of $44.06-$54.24.