Credit Suisse Analyst Lukewarm on Dick’s Sporting Goods Inc (DKS) Following Store Visits
Credit Suisse analyst Seth Sigman weighed in on Dick’s Sporting Goods Inc (NYSE:DKS) after either calling or visiting 50 of the company’s stores.
The analyst noted that most of the stores’ premium branded inventory has been liquidated and explains that more store closings are expected in the next two to three weeks. Most stores had little to no premium inventory left to liquidate, and those that did only had odd sizes stocked. No new shipments are expected for Dicks stores with a few exceptions.
According to the analyst, DKS’ liquidation is expected to continue into Q2 and through the back to school portion of Q3.
The analyst reiterates a Neutral rating for the stock with a price target of $48.00.
Seth Sigman is a highly rated analyst with a success rate of 66% and a average return of 5.5%.