DA Davidson lowered the firm’s price target on Dick’s Sporting (DKS) to $230 from $273 but keeps a Buy rating on the shares. The company’s Q1 results were “strong”, n line with the preannouncement earlier this month and better than the original expectations, the analyst tells investors in a research note. The firm adds that it continues to see the stock as undervalued and believes that the Foot Locker acquisition related pullback provides a good entry level but also cuts its assumed earnings multiple to 15-times from 18-times due to reduced retail valuations and potential deal related risks.
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Read More on DKS:
- Dick’s Sporting price target lowered to $225 from $260 at UBS
- Dick’s Sporting price target lowered to $195 from $224 at JPMorgan
- Hold Rating on Dick’s Sporting Goods Amid Acquisition Uncertainties and Strong Operational Performance
- Dick’s Sporting price target raised to $232 from $217 at Barclays
- Buy Rating for Dick’s Sporting Goods: Strong Financial Performance and Strategic Initiatives Drive Positive Outlook
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