JP Morgan has increased its price target for Sporting goods retailer, Dicks Sporting Goods Inc(DKS) Wednesday.

The firm has given the company a rating of “Overweight,” and has increased its price target to $61. This price suggests a 16.4% increase over the stock’s current price of $50.97.

JP Morgan has increased estimates due to an increase in sales growth.

Dicks Sporting Goods shares were mostly flat during premarket trading Wednesday.The stock is up 38.2% YTD.

The Bottom Line
Shares of Dicks Sporting Goods (DKS) have a .98% dividend yield, based on last night’s closing stock price of $50.97. The stock has technical support in the $45-$46 price area. The stock is trading near the all-time high range of $52-$54 a share.

Dicks Sporting Goods Inc(DKS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.