Piper Jaffray Raises PT On Dick's Sporting Goods

In a recent report, Piper Jaffray has raised the price target on Dick's Sporting Goods (NYSE: DKS) from $44 to $48 and has reiterated an Overweight rating on the company. The increase of price target comes after the company missed Q1 sales expectations due to a slow start to the spring season.

In the report, Piper Jeffray said, "While sales missed expectations due to a difficult start to the spring selling season, we believe continued margin expansion and accelerating square footage growth make DKS one of the most compelling stocks in our universe."

DKS closed yesterday at $39.42.