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Fly News Breaks for October 24, 2016
DKS
Oct 24, 2016 | 08:19 EDT
UBS analyst Michael Lasser noted Dick's Sporting won the auction for bankrupt Golfsmith stores in the U.S. and said the takeaway is that industry consolidation continues to play into Dick's Sporting favor. The analyst sees this win as mostly a real estate play that keeps the locations out of the hands of competitors. Lasser sees the liquidation of Golfsmith's inventory as helping finance the deal. Lasser reiterated his Buy rating and $66 price target on Dick's Sporting shares.
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