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Dick's Sporting Goods Shares 'Too Cheap to Dismiss,' Oppenheimer Says

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Dick's Sporting Goods (DKS) shares are "too cheap to dismiss" after a steep drop following disappointing fiscal Q2 results and a cut to full-year guidance, Oppenheimer said Wednesday in a report.

The shares tumbled 31% on Tuesday after the sports retailer lowered its outlook, though recent shortfalls "reflect primarily external factors, which should prove transitory," the report said.

"While disappointed with signals of weaker-than-planned sales and profit recovery at Foot Locker," Oppenheimer expressed confidence in Dick's management "to drive significant margin and productivity gains, on the heels of meaningful merchandise resets, over time."

For fiscal 2026, Oppenheimer expects adjusted EPS of $11.12, down from its prior forecast of $14.30, versus guidance of $11 to $12 and Wall Street's $12.76 estimate. For fiscal 2027, Oppenheimer cut its EPS estimate to $13.01 from $16.30, versus the consensus estimate of $14.29.

Oppenheimer slashed its price target on Dick's stock to $150 from $270 and maintained its outperform rating.

Price: $128.92, Change: $+4.61, Percent Change: +3.71%

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