DKS - Dick's Sporting Goods started at Hold as Loop sees positives priced-in
Dick’s Sporting Goods ( NYSE: DKS ) was initiated by Loop Capital at a Hold rating on Wednesday as the stock’s rise in recent months balances the risk reward.
Equity analyst Anthony Chukumba explained that the retailer offers a “unique and compelling experience” for customers and generates consistent positive free cash flow. However, after a nearly 30% surge since mid-November, the upside for the stock appears limited in his view.
“We think our bullish fundamental outlook is largely priced in—particularly given our view the core DICK'S Sporting Goods concept has very limited domestic organic square footage growth prospects,” Chukumba explained. “We await a more attractive entry point to become more constructive.”
He assigned a $130 price target to the stock alongside the Hold initiation. Shares of Dick’s Sporting Goods ( DKS ) slipped 1.07% shortly after Wednesday’s market open.
Read more on the potential for Netflix to boost golf sales in 2023 .
For further details see:
Dick’s Sporting Goods started at Hold as Loop sees positives priced-in