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Investing.com - Truist Securities raised its price target on Dick’s Sporting Goods (NYSE:DKS) to $248.00 from $230.00 on Friday, while maintaining a Buy rating on the $17.3 billion sporting goods retailer. According to InvestingPro, the stock trades at an attractive PEG ratio of 0.93, suggesting reasonable valuation relative to its growth prospects.
The price target increase follows what Truist described as a "solid" second quarter for the sporting goods retailer, despite some concerns about gross margin commentary that led to a mid-single-digit percentage drop in the stock price on Friday.
Dick’s Sporting Goods slightly raised its second-half outlook compared to initial internal expectations, demonstrating momentum across product categories despite broader macroeconomic uncertainty and higher prices.
The company now projects year-over-year gross margin expansion, a modification from its previous guidance of 75 basis points of expansion, though it still expects gross margin and merchandise margin expansion to accelerate in the second half compared to the first half.
Truist Securities remains bullish on Dick’s Sporting Goods’ competitive position, citing its differentiated product assortments, resilient customer base, and key initiatives as factors that should continue to drive upside for the retailer.
In other recent news, Dick’s Sporting Goods Inc. has reported better-than-expected financial results for the second quarter of 2025. The company’s earnings per share (EPS) came in at $4.37, surpassing the anticipated $4.30. Revenue also exceeded forecasts, reaching $3.65 billion compared to the expected $3.61 billion. These results reflect a positive performance for the quarter, despite concerns among investors about potential future challenges. There were no reports of mergers or acquisitions involving the company. Analyst reports did not indicate any recent upgrades or downgrades for Dick’s Sporting Goods. These developments provide investors with the latest insights into the company’s recent performance.
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