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Dick’s Sporting Goods Downgraded

Equity research firm, Oppenheimer downgraded Dick’s Sporting Goods (NYSE: DKS) to a “market-perform” from a “outperform”, citing continuation of weak sales trend and certain “acute products issues” which the company will have to pay attention to. The price target on the stock was slashed to $44 from $56. Earlier on Wednesday, Deutsche Bank reiterated a “buy” rating on the stock but cut the price target to $52 from $57 while analysts at Citigroup Inc. cut price target to $54.  The Company on Tuesday handed weaker-than-expected fiscal second quarter results.

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