Dick's Takes the Field

Dick’s Sporting Goods $DKS ( ▲ 2.3% ) is getting an upgrade from Baird.

The firm raised the stock to Outperform and lifted its price target to $253, implying about 25% upside from today’s close.

Baird says a recovering Foot Locker business and steady market share gains set up a multi-year earnings story.

It described the setup as long-term earnings power paired with near-term cyclical torque, arguing recent stock weakness does not reflect improving fundamentals.

Analyst Jonathan Komp introduced earnings estimates of $15 per share for 2026 and $18 for 2027.

He pointed to productivity gains versus pre-Covid levels, with revenue up roughly 60% and earnings nearly tripling over that span.

Komp is especially bullish on a multi-year Foot Locker recovery, which he sees as leveraged to Nike’s turnaround.

He also highlighted Dick’s strength in footwear and leadership changes that could unlock further gains.

Dick’s holds about 14% of a $140 billion US sporting goods market, leaving a meaningful runway for additional share gains, according to Baird.

The firm cited youth sports participation, growth in women’s sports, and recreational activity trends as durable tailwinds.

Vertical brand expansion and technology investments aimed at enhancing the in-store experience add to the long-term case.

Baird believes the combination of category health and disciplined execution supports further upside.