Dick's upgraded to “Buy”

Portland, Ore. Analysts at Sterne Agee & Leach upgraded Dick’s Sporting Goods to a "Buy" rating, saying the retailer is well-positioned to weather the economic downturn.

Analysts Sam Poser and Kenneth Stumphauzer wrote in a note that the sporting-goods retailer is likely to maintain earnings power, despite declines in sales.

Earlier this month, Dick's predicted first-quarter profit below analyst estimates, citing an expected decline in same-store sales. But the analysts said that Dick's reaction to the economic pressures, such as limiting store growth, tightening inventory and focusing on higher margin products, will benefit them in the long term.