In a report released yesterday, Paul Lejuez from Citi maintained a Buy rating on Dick’s Sporting Goods, with a price target of $280.00.
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Paul Lejuez has given his Buy rating due to a combination of factors that highlight the potential growth and stability of Dick’s Sporting Goods. The company’s core business has shown strong performance with a 5.7% increase in comparable sales and a 30 basis point improvement in gross margin in the third quarter. This indicates that the core operations of Dick’s Sporting Goods remain robust and competitive in the market.
Additionally, management is actively addressing challenges with the recently acquired FL business by clearing slow-moving inventory and reassessing the store fleet. Although this may cause short-term sales and margin pressure, the long-term earnings potential remains promising. Management’s plans for future synergies and improvements, along with a conservative guidance for the fourth quarter, suggest a solid foundation for future growth, supporting the Buy rating.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $228.00 price target.