DA Davidson says buy Dick’s Sporting on weakness, calls guidance ‘beatable’

DA Davidson says Dick’s Sporting (DKS) Goods “put up another strong quarter” that “checked just about all of the boxes,” with comparable store sales growth of 6.4% “their best in two and a half years and far ahead of any competitor or vendor reads.” While noting that the company’s guidance is below consensus, the firm says it is “not worried for two reasons,” pointing out that most companies have been guiding conservatively in the current environment and that Dick’s beat their original 2024 plan by $1.00, or 7.6%. The firm, which would buy on weakness, has a Buy rating and $280 price target on the stock.