Goldman Sachs Upgrades Dick's Sporting Goods (DKS) to Conviction Buy

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.

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