Dick's Sporting Goods is a 'winner in athletic retail' after completing its acquisition of Foot Locker, according to Citi.
Dick's Sporting Goods is a "winner in athletic retail" after completing its acquisition of Foot Locker, according to Citi. Citi upgraded the stock to buy from neutral in a Tuesday note and raised its price target to $280 per share from $225.
The bank's forecast implies about 25% upside from Monday's $223.83 close. "The combination of DKS/FL will be a powerful force in the world of athletic footwear and apparel," the analyst said. "Combined, the new DKS will have F26E sales of $22.5BN in sales, including ~$20BN in US sales with the next player within the US at $4.3BN in sales." DKS YTD mountain Dick's Sporting Goods stock in 2025. "Their buying power with the largest and most sought-after brands in athletic should make them a 'category killer,'" the analyst added. Lejuez cited 10 reasons for his optimism post-merger, including: A healthy consumer base A willingness by brands to work with Dick's "Private label opportunity within Foot Locker stores" "Attractive valuation with multiple expansion potential" The $2.4 billion deal was announced in May and marked an effort to corner the Nike sneaker market. Since then, Dick's shares are up more than 16%. The stock added another 2% in the premarket. Analysts are mostly neutral on Dick's, however. Of the 26 who cover it, 11 rate it a buy or strong buy, per LSEG. The remaining 15 have a hold rating.
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