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Fly News Breaks for December 31, 2019
Dec 31, 2019 | 08:34 EDT
Cowen analyst John Kernan raised his same-store sales and EPS estimates for Dick's Sporting Goods above consensus forecasts, which he thinks are too low given his proprietary survey data pointing to shopper preference for sporting goods gradually improving across demographics. The analyst, who still sees high uncertainty on the direction of long-term margins at Dick's, thinks this seems reflected in valuation, he added. Kernan increased his price target for Dick's shares to $53 from $47 and keeps a Market Perform rating on the stock.