Home / Business and Economy / Baird Upgrades Dick's Sporting Goods: $253 Target
Baird Upgrades Dick's Sporting Goods: $253 Target
11 Feb
Summary
- Baird upgraded Dick's Sporting Goods to outperform with a $253 price target.
- Analyst sees a multi-year earnings story with near-term cyclical momentum.
- Dick's revenue is up 60% and earnings have risen 2.8 times since pre-Covid.
Baird has upgraded Dick's Sporting Goods (DKS) to an outperform rating, raising its price target to $253 from $230. Analyst Jonathan Komp highlighted the company as a "multi-year earnings power story with near-term cyclical torque." He introduced earnings targets of $15 per share for 2026 and $18 per share for 2027.
The firm's bullish outlook is underpinned by Dick's substantial growth, with revenue up approximately 60% and earnings 2.8 times higher compared to pre-Covid levels. This impressive performance is attributed to the company's expanding scale, healthy categories, and effective execution, particularly with key brands.
Baird is optimistic about a multi-year recovery at Foot Locker, which is expected to benefit Dick's, especially as Nike shows signs of a turnaround. Additional positive factors include potential macroeconomic catalysts like increased tax refunds and Dick's leading position within the attractive U.S. sporting goods market, estimated at $140 billion.
