Wedbush raised the firm’s price target on Dick’s Sporting to $230 from $210 and keeps a Neutral rating on the shares. The firm notes Dick’s reported Q1 results that beat expectations on the top- and bottom-lines. The company also raised FY24 guidance to reflect the beat on the top line and slightly more than the beat on the bottom line. Wedbush looks positively on the results that show continued sales momentum despite a choppy industry demand environment, as Dick’s is capitalizing on strong new merchandise, good in-store and online service, easier comparisons and its Game Changer app.
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