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Fly News Breaks for May 30, 2018
DKS
May 30, 2018 | 13:55 EDT
Baird analyst Peter Benedict raised his price target for Dick's Sporting Goods to $39 following the company's Q1 results and keeps a Neutral rating on the shares. The stock in afternoon trading is up 27% to $38.70. Higher merchandise margins and a favorable calendar shift helped earnings beat by over 30%, but comp traction "remains elusive," Benedict tells investors in a post-earnings research note. He believes Dick's comps need to re-gain positive traction for shares to "sustainably re-rate higher from here."
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