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Investing.com - Truist Securities raised its price target on Dick’s Sporting Goods (NYSE:DKS) to $275.00 from $248.00 on Friday, while maintaining a Buy rating on the stock. The sporting goods retailer, currently trading at $230.37 with a market cap of $18.45 billion, has shown impressive momentum with an 8.88% gain over the past week. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
The price target increase reflects Truist’s updated model incorporating Dick’s acquisition of Foot Locker. The firm noted that investor sentiment about the Foot Locker acquisition has improved modestly over recent months. With an overall Financial Health Score rated as "GOOD" by InvestingPro, DKS maintains a strong position with a healthy current ratio of 1.7 and has consistently paid dividends for 15 consecutive years.
According to Truist, while most investors remain neutral to negative on the deal itself, there is growing bullishness on Dick’s core business. Investors increasingly believe the Foot Locker addition will not disrupt Dick’s strong trajectory.
Truist also highlighted increased optimism around Nike’s (NYSE:NKE) turnaround progress, which it believes could significantly impact a potential Foot Locker recovery. The firm maintains a Buy rating on Nike as well.
The price target adjustment represents approximately a 10.9% increase from Truist’s previous $248.00 target for the sporting goods retailer.
In other recent news, Dick’s Sporting Goods reported its second-quarter 2025 financial results, showcasing a slight earnings per share (EPS) beat. The company posted an EPS of $4.37, narrowly surpassing the forecasted $4.30, and reported revenue of $3.65 billion, slightly above the projected $3.61 billion. Additionally, Dick’s Sporting Goods completed the acquisition of Foot Locker, with UBS maintaining a Buy rating and a $275.00 price target for the company following this transaction. The acquisition included an exchange offer for Foot Locker’s 4.000% Senior Notes due 2029, with 95.48% of the notes tendered. Dick’s issued $381.93 million in new notes and paid $1 million in cash for the tendered Foot Locker notes. The company also released updated unaudited pro forma financial information related to the Foot Locker acquisition for the fiscal quarter ended August 2, 2025. UBS’s continued Buy rating reflects confidence in the combined business’s potential, as they have published pro forma financial estimates for the merger.
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