Dick’s Sporting price target lowered to $200 from $225 at Wells Fargo

Wells Fargo lowered the firm’s price target on Dick’s Sporting (DKS) to $200 from $225 and keeps an Equal Weight rating on the shares. The firm says momentum on core Dick’s Sporting Goods continues with solid same-store sales, non-competitive opportunities, and optionality on ancillary profit drivers, but the key debate remains on if solving for product will drive the turnaround at Foot Locker.