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Pro Analysis

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
A Dick's Sporting Goods store in West Nyack, New York

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.