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

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