Citi Investment Research & Analysis analyst Kate McShane reiterated her Buy rating for shares of Dick’s Sporting Goods Inc (NYSE: DKS), with a price target of $34 per share.
McShane wrote that she expects Dick’s Sporting Goods Inc shares to benefit from continued excellent merchandise execution, improved gross margins, and their valuation relative to growth rate.
The Citi Investment Research & Analysis analyst wrote, “we acknowledge competition is increasing & DKS may not benefit as greatly from store closures/bankruptcies; however, we believe DKS will reap outsized benefits in the improving consumer spending backdroup that has lead to greater competition on: prudent strategic & mkt expenses (driving traffic/differentiation), a unique shopping experience w/ proactive execution in key growth areas (toning, golf tech., core balance, apparel tech.), exclusive brands (Nike ACG, Umbro) & con’t successful execution vs. Sports Authority, & better real estate availability on TSA’s focus on smaller stores.”
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