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Top analyst: Buy Dick's Sporting Goods on rising sales

A Dick's Sporting Goods store in West Nyack, New York
Craig Warga | Bloomberg | Getty Images

One of Wall Street's top analysts raised his rating on Dick's Sporting Goods to outperform from sector perform on the prospect of big market-share gains from the Sports Authority bankruptcy.

"In our view, the TSA [The Sports Authority] liquidation process will prove to be less disruptive in 2Q and 3Q than expected and management seems increasingly confident that they can capitalize on the ~$2.7 billion of orphaned sales in 2017," RBC Capital's Scot Ciccarelli wrote in a note to clients Thursday.

Ciccarelli's picks have a 17 percent one-year average return with 81 percent success rate, according to analyst ranking service TipRanks, placing him in the top 2 percent of all Wall Street analysts covering any industry.