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Dick's Sporting Goods' Investment Spree Could Spoil The Game For Investors, Analyst Says

BofA Securities analyst Robert F. Ohmes cut Dick’s Sporting Goods, Inc. (NYSE:DKS) price target to $225 (from $245) while reiterating a Neutral rating. The price target change reflects the risk of more limited earnings upside this year as the analyst expects planned investment spending supporting the growth of House of Sport (+75-100 by 2027), Next Generation stores (+16 in 2024), and GameChanger (technology capabilities build-out) to weigh on occupancy and operating expenses. The analyst cut the estimates for first-quarter adj. EPS to ...