PHILIP DORGAN PANMURE GORDON
Knock-out numbers from Sports Direct. It has clearly fully-capitalised on the opportunities that the summer of sport has presented. We remain ‘Buyers’, with a target price of 350p. We think that there is also a danger that it could become an internet stock, as online penetration races to 20 per cent of sales.
ANDREW WADE NUMIS
Sports Direct is a clear market leader, set to continue delivering share gains from competition weakness, with international growth, a strong online operation and (according to management) either an acquisition or special dividend to come this year...We reiterate our ‘add’ recommendation.
FREDDIE GEORGE SEYMOUR PIERCE
Following this update, we are provisionally retaining our full-year 2013 pre-tax profit forecast of £195m...Over the medium term, the company should benefit from recent acquisitions, capacity coming out of the market (less important) and a major opportunity to develop internet sales.