RBC Capital analyst Scot Ciccarelli raised his price target on Dick's Sporting to $38 after its Q3 earnings beat, saying the company has improved its profitability while reducing its pre-opening expenses. The analyst keeps his Sector Perform rating however, noting that Dick's Sporting goods adjusted comps and traffic continued to decline in spite of operating in "one of the strongest retail environments in years". Ciccarelli adds that while the stock looks inexpensive, the soft top-line trends keep him on the sidelines as he maintains his Sector Perform rating.