DA Davidson says would buy Dick’s Sporting dip after earnings

DA Davidson keeps a Buy rating and $265 price target on Dick’s Sporting after its Q2 earnings beat and guidance raise. The raise included flowing through the 2Q upside and a slightly improved second-half outlook vs. its previous plan, though the full year increase was less than the Q2 beat, the analyst tells investors in a research note. Following the stock’s runup this year, it was not surprising to see a modest give back on earnings, though the firm would buy that dip as the valuation remains at a discount versus peers despite the stock outperformance, DA Davidson added.