Hibbett (HIBB), mcap=$573m, price $44 vs. $45

Pitch: Athletic fashion retailer at a low valuation. A beneficiary of the recent Nike strategy to rationalize distribution partner network (i.e. cutting out third-tier partners). Potential short squeeze candidate.

Valuation: HIBB trades at 4x TTM EPS of $11.2. Guidance for fiscal 2023 is EPS=$10. Haircutting the guidance by 20% and using 7-8x multiple results in $60/share price target.

Exp. gain: 30%

Full HIBB write-up (free guest account required):
https://www.valueinvestorsclub.com/idea/HIBBETT_INC/2247908973

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