Oppenheimer says investors are underappreciating shares of Dick's Sporting Goods , a retailer poised to profit from consumer demand shifts in a post-pandemic world. Analyst Brian Nagel upgraded shares of the retail stock to outperform, highlighting in a note to clients Thursday that shares trade at only 12 to 14 times the firm's expected recession case earnings for the retailer. "In our view, a now better-positioned and more strategically merchandised Dick's Sporting Goods is likely to continue to capitalize well upon positive, post-pandemic shifts in consumer demand and stepped-up competitive fallout within sporting goods retail," Nagel said. The firm placed a $138 price target on the stock, reflecting the possibility of shares gaining 26% from Wednesday's close. Despite this backdrop, shares of Dick's Sporting Goods have outperformed the broader S & P 500 and the retail sector.

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