Dick's Sporting checks indicate strong soccer sales, says Wells Fargo Wells Fargo said its checks show the World Cup has driven strong demand and sales of soccer goods at Dicks, which the firm thinks will likely be a tailwind for its Q2 sales and margin trends. The firm keeps its Outperform rating on the stock.
News For DKS From The Last 14 Days
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Dick's Sporting downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Dick's Sporting Goods to Market Perform citing the recent rebound in shares and its data for August which indicates golf equipment sales continue to be weak. Wells also believes Disk's is near peak sales productivity and that the shift to ecommerce will lead to lower margins. The firm dropped its price target range for shares to $43-$46 from $47-$50.