Markets & Finance

ST Robinson Ups Sports Authority to 'Overweight'

ST Robinson Humphrey upgraded Sports Authority (TSA) to overweight from equal-weight.

Analyst David Magee says recent topline trends at the sports retailer have firmed as the weather has been more normal. He believes Sports Authority is more focused on topline consistency with the addition of a marketing executive, and the impending hiring of a marketing consultant.

He thinks comparison sales will be much easier going into the late fall and holiday season. He says he's beginning to have some visibility into expense savings; expense leverage should continue as comparision sales get stronger.

Magee sees $1.88 fiscal 2004, and $2.05 fiscal 2005 earnings per share.

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