Goldman Sachs Positive On Dick's Sporting Goods After Management Meeting

Goldman Sachs is out with a research report on Dick's Sporting Goods DKS. It has a $45 price target on shares. In a note to clients, Goldman Sachs writes, "We emerged from our meetings with DKS management confident in the near-term and long-run outlooks and maintain our forecasts, which stand above guidance and consensus for the quarter and the year. We believe that sales are tracking to guidance, and margins at least to that level. Management did not specifically address the tone of business and remains concerned about the state of the consumer, but it spoke to solid trends in golf – a source of investor concern, given declines in rounds played and Callaway's recent shortfall – and, a lean inventory position, with clearance activity under control despite a slow start to spring." Shares of DKS gained $1.55 yesterday to close at $39.21.