12:14 PM EDT, 03/20/2024 (MT Newswires) -- Dick's Sporting Goods (DKS) shares are likely to grind higher in coming quarters, with consistent traffic and market share grabbing acumen making it a standout among major retailers, Oppenheimer said Wednesday.

"While 'easy money' in DKS has likely been made, in coming quarters, shares should grind higher, fueled by further solidifying, underlying earnings power and incremental, albeit less robust multiple expansion," Oppenheimer analysts, including Brian Nagel, said in a note.

"Our continued upbeat call on DKS is now generally more longer-term-focused and less hinged to upcoming, nearer-term

data points," they added.

The brokerage increased its price target on the stock $240 from $190 while reiterating its outperform rating.

Price: 216.34, Change: +1.38, Percent Change: +0.64