Telsey Advisory Group analyst Joseph Feldman reiterated Outperform rating on Dick’s Sporting Goods Inc (NYSE:DKS), raising the forecast to $245 from $195.
The company reported fourth-quarter FY23 sales growth of 7.8% year-on-year to $3.876 billion, beating the analyst consensus estimate of $3.796 billion.
The fourth quarter comp was 2.8% and exceeded estimates—despite facing difficult comparisons of 5%, 6%, and 19% in the fourth quarter of 2022, the fourth quarter of 2021, and the fourth quarter of 2020, respectively.
A solid demand for sporting goods and benefits from the company’s improved product assortment, ...