Sales Strengthening Further in Sporting Goods
- July 28, 2020
Oppenheimer Analysts Upgrade Dick's Sporting Goods to Outperform
In early June, Oppenheimer analysts upgraded shares of Dick’s Sporting Goods upon a discounted valuation and prospects for the chain to capitalize on a shift in spending towards sports-related products, amid ongoing COVID-19-related macro disruptions.
Dick's is set to report second quarter results in mid- to later Aug. Recent data clearly suggest strengthening trends in demand for sporting goods, which our analysts believe could portend meaningful upside in second quarter trends at Dick's.
Shares of Dick's have bounced from recent lows, but continue to lag peer equities and broader indices. Our team's $52 price target implies upside of about 20% from current levels.
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