Dick’s Sporting price target raised to $248 from $230 at Truist

Truist raised the firm’s price target on Dick’s Sporting (DKS) to $248 from $230 and keeps a Buy rating on the shares. The company reported a “solid” Q2 and guidance, though this was offset by “cloudier” gross margin commentary, the analyst tells investors in a research note. Truist adds however that the management still expects their gross margin and merchandise margin expansion to accelerate in the second half vs the first half, and the firm continues to believe that the company’s differentiated assortments, resilient customer base, and key initiatives should continue to drive upside.