Truist raised Dick’s Sporting Goods price target to $270 from $252 for 23% upside, while Jefferies lifted its target to $224 from $210, cautioning remodel gains may slow. DKS raised its comps outlook after 6% sales growth and double-digit remodel comps, renovating 100 Foot Locker stores toward 250 by back-to-school.
Truist raised its Dick’s Sporting Goods price target to $270 from $252 and kept a Buy rating, implying 23% upside potential. Jefferies increased its target to $224 from $210 with a Hold rating, highlighting early sales gains but warning future remodel boosts may diminish.
The company lifted the low end of its comparable-store sales outlook following a 6% increase in sales, driven by strong core growth. Near-term profit flow-through expectations weigh on guidance, but investments are expected to sustain momentum.
DKS’s Fast Break program has remodeled 100 Foot Locker locations and is on track to refurbish 250 by back-to-school. These updates have delivered double-digit comparable sales gains and improved merchandise margins to date.
Jefferies cited continued underperformance in Foot Locker’s overseas operations, suggesting additional investment may be needed. Slower international momentum could pressure overall growth as the brand works to regain traction abroad.
