J.P. Morgan Raises Dick's Sporting Goods PT, Maintains Overweight (DKS)

J.P. Morgan raised its Dick's Sportings Goods DKS price target from $41 to $44 and maintained its Overweight rating in a research report published today.

In the report, J.P. Morgan states, "Topline momentum in the sporting goods category remains strong and DKS continues to be best positioned to ride the trend. Comps remain positive in all three major categories (particularly apparel and footwear), the two year run rate for core DKS stores improved 250 bps sequentially, new store productivity was over 110%, and we believe QTD trends are running ahead of the 4-5% comp guidance for 1Q."

Shares of Dick's Sporting Goods were trading at $39.30 in pre-market trading at the time of posting, down 1.60% from Tuesday's market close.