Dick’s Sporting price target raised to $250 from $230 at Wedbush

Wedbush analyst Seth Basham raised the firm’s price target on Dick’s Sporting to $250 from $230 and keeps a Neutral rating on the shares. The firm sees upside potential to consensus estimates for Dick’s Sporting Q2 earnings on September 4. Wedbush also expects Dick’s Sporting to raise FY24 guidance by a similar amount that it did just three months ago. However, with high investor expectations and trends likely to meaningfully decelerate in the second half of 2024 on the back of tougher comparisons and reversal of a calendar shift benefit from the first half of 2024, the firm sees only modest upside potential for shares on the print.