Baird believes that a Foot Locker recovery and market share gains should lift the stock price of Dick’s Sporting Goods . The investment firm upgraded the sporting goods retailer to an outperform rating from neutral. Baird also hiked its price target to $253 from $230. Shares of Dick’s Sporting Goods have slipped 18% over the past 12 months but are up 1% in 2026. Baird’s revised price target implies the stock could add another 27%. DKS 1Y mountain DKS 1Y chart Analyst Jonathan Komp called the stock “a multi-year earnings power story with near-term cyclical torque.” For 2026 and 2027, Komp introduced earnings targets of $15 per share and $18 per share, respectively. “We are impressed by DICK’S productivity gains vs. pre-COVID levels and bullish on the multi-year Foot Locker recovery (levered to NKE’s turn),” he wrote. The analyst added that versus the company’s pre-Covid levels, its revenue is up around 60% and earnings have risen 2.8 times. These changes reflect the company’s growing scale, category health and sound execution and merchandising, especially around key brands. Komp wrote that he holds a bullish view of the Foot Locker recovery opportunity considering Dick’s success in growing footwear, as well as the company’s new leadership. Additional tailwinds include more promising macroeconomic catalysts, such as higher tax refunds set to flow. The analyst also applauded Dick’s status as the leading competitor in an attractive market. While the company currently holds an estimated 14% share within the $140 billion total addressable market for U.S. sporting goods, Komp sees a meaningful runway for Dick’s to grow its share. Technically, the firm moved its coverage to its active lifestyles team, but with a higher rating and price target. “We see several embedded long-term drivers for the category, including continued gains for youth organized sports, continued increases in women’s sport participation, and adult Recreational sports drivers,” he said. “Looking forward we expect management to continue to pursue effective vertical brand expansion (13% of sales in F2024) and technology investments to enhance the in-store experience.”
