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Benzinga
Benzinga
Business
Shivani Kumaresan

Telsey Advisory Cuts Price Target On This Sporting Goods Maker- Read Why

DKS Joseph Feldman NYSE Telsey Advisory Group Supply chain
  • Telsey Advisory Group analyst Joseph Feldman lowered the price target on Dick's Sporting Goods Inc (NYSE:DKS) to $125 (65% upside) from $153 and kept an Outperform rating on the shares.
  • The analyst expects DKS to have a challenging Q1 as it faces a shift in consumer spending away from discretionary categories, elevated freight costs, and higher wages.
  • Meanwhile, Feldman thinks DKS benefits from the strong demand for fitness & outdoor equipment and athletic apparel & footwear as team sports return and consumers prioritize healthy lifestyles, outdoor activities, and comfortable attire.
  • He maintains a 1Q22 EPS estimate of $2.33 and expects the operating margin to contract 475 bps to 11.6%, given higher supply chain costs and promotions.
  • Price Action: DKS shares are trading lower by 2.53% at $75.56 on the last check Monday.
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