- Telsey Advisory analyst Joseph Feldman reiterated an Outperform rating on the shares of Dick’s Sporting Goods Inc (NYSE:DKS) with a price target of $160.
- Dick’s Sporting Goods had a solid 1Q23, as consumers continued to spend on sporting goods, resulting in inline sales with a comp of 3.4% versus an estimate of 3.4%.
- The sales growth and good execution helped lead to a better-than-anticipated gross margin. However, the SG&A ratio was higher than expected, noted the analyst.
- The 1Q23 earnings beat and maintained 2023 guidance is encouraging and supports the analyst’s view that the company is gaining share in sports and outdoor equipment and athletic apparel & footwear.
- The analyst commented that the deteriorated macroeconomic environment and higher costs and promotions remain potential headwinds going forward.
- The analyst views Dick’s as a long-term share gainer through its unique assortment of national brands, differentiated private brands, and e-commerce.
- Price Action: DKS shares are trading lower by 1.17% at $124.92 on the last check Tuesday.
Morgan Stanley Maintains Equal-Weight on Bumble, Lowers Price Target to $27
Morgan Stanley analyst Lauren Schenk maintains Bumble (NASDAQ:BMBL) with a Equal-Weight and lowers the price target from $28 to $27.
