Independent Equity Research
Valuation-driven, Process-Oriented Research for the Long-Term Investor
View All ResearchWe upgrade Dick's Sporting Goods from Hold to Buy and revise our price target to $161.00, representing 19.2% upside from the August 31, 2026 closing price of $135.09. The share price decline since our initiation has created a compelling entry point that now offers the margin of safety we previously lacked.
Target
$161
Current
$135.09
Upside
+19.2%
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Aug 31, 2026
We initiate coverage of Korn Ferry with a Buy rating and $99.00 price target (10% margin of safety applied to $110.02 probability-weighted DCF) representing 19.1% upside. KFY is not merely an executive search firm — it is the dominant platform for board and C-suite talent decisions, with 12 billion proprietary data points, an accelerating cross-referral flywheel, and a net-cash balance sheet approaching a meaningful capital return catalyst.
Target
$99
Current
$84.01
Upside
+19.1%
Initiating Coverage
Aug 19, 2026
We initiate coverage of HCA Healthcare with a Buy rating and $542.90 price target (10% margin of safety applied to $603.23 probability-weighted DCF) representing 39.3% upside. HCA is the best-in-class large-cap hospital operator with dominant Sun Belt positioning and an aggressive buyback program; near-term ACA and Medicaid headwinds are already conservatively priced into our base-case assumptions.
Target
$542.9
Current
$389.62
Upside
+39.3%
Initiating Coverage
Jul 27, 2026