Dick's Sporting Goods (DKS) is well-positioned to counter tariff costs with "fairly modest" price increases, Truist Securities said Tuesday in a report.
Dick's benefits from customers who have shopped "loyally and at full price in a choppy macro," and the retailer and many brand partners have been diversifying sourcing in recent years, Truist said.
"While broad discretionary weakness remains a concern," Dick's is still poised to gain market share, and the company "has ample flexibility to lower spending, if needed," the report said.
Truist maintained a buy rating on Dick's stock and a price target of $245 on the stock.
Dick's shares fell 0.4% in recent Tuesday trading.
Price: 184.26, Change: -0.73, Percent Change: -0.39
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