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BUZZ-Sports Direct: top of FTSE 100 after Exane BNP target hike

** Sports Direct top of FTSE 100, up 2.5% & extending gains made last week in the wake of FY results, as Exane BNP Paribas hikes TP to 860p vs 800p

** Broker says flexibility of the store estate is allowing Sports Direct to move to larger, better invested formats -- supported by brand partners; flags online has accelerated from the successful introduction of Click & Collect

** Underlines that expansion in Europe presents significant optionality to the investment case; notes management are actively seeking deals & meantime Sports Direct will continue to grow organically in Europe

** Co last week posted underlying FY PBT beat even after England's early exit from football world cup & unseasonable weather last autumn which hurt footfall (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)