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Fly News Breaks for February 21, 2017
DKS
Feb 21, 2017 | 07:19 EDT
Oppenheimer analyst Brian Nagel downgraded Dick's Sporting to Perform from Outperform ahead of results. The analyst is increasingly concerned after a large number of leading sporting goods manufacturers and retailers reported results well shy of expectations, all while certain industry-wide sales trackers also hinted at top-line disruptions for the sector. Nagel notes that hints of a setback in Q4 or into FY17 are likely to undermine near-term investor confidence in the Dick's Sporting story.
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