Hibbett well-positioned to outperform peers, Telsey Advisory says, lifts PT

Hibbett

22/08/2022 15:32

** Athletic apparel retailer Hibbett Inc  HIBB.O  has
several competitive advantages that should allow it to
outperform peers despite macro uncertainty, says Telsey Advisory
Group
    ** HIBB has a unique footprint with stores in small,
underserved markets and over ~50% of stores with no competition
within three miles - Brokerage
    ** Raises PT to $75 from $65 - ahead of Q2 results later
this week - implying a near 26% upside to stock's last close
    ** Telsey says Q2 sales to decline on lack of stimulus
benefits compared to last year, while margins to be pressured by
increased promotions
    ** Stock down ~2% at $58.64 on Monday
    ** HIBB is rated "buy" on average among seven brokerages on
Refinitiv, with a median PT of $71.50 
    ** YTD, shares down ~18%

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))