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Dick's Sporting Goods Plunges 10.6% on Foot Locker Acquisition Concerns
Generated by AI AgentAinvest Pre-Market Radar
Thursday, May 15, 2025 8:08 am ET1min read
On May 15, 2025,
experienced a significant drop of 10.6% in pre-market trading, reflecting investor concerns and market reactions to recent strategic decisions by the company.Dick's Sporting Goods has recently announced a major acquisition of
for $2.4 billion, which represents an 85% premium over Foot Locker's closing price. This move has been with mixed reactions from analysts, leading to a downgrade in the company's stock rating.TD Cowen has downgraded Dick's Sporting Goods from Buy to Hold, adjusting the price target from $245 to $216. This decision comes as analysts weigh the potential benefits and risks associated with the acquisition, particularly the financial implications and integration challenges.
The acquisition is expected to be accretive to Dick's Sporting Goods' earnings per share in the first full fiscal year post-close, excluding one-time costs. However, the premium paid for Foot Locker has raised concerns about the financial burden and the potential impact on the company's overall performance.
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