UPDATE: Imperial Capital Initiates Dick's Sporting Goods at Outperform on Growth Strategy

Imperial Capital initiated coverage on Dick's Sporting Goods (NYSE: DKS) with an Outperform rating and a $57 price target.

Imperial Capital commented, "We consider Dick's a best-of-breed retailer with talented management, an impressive track record of strong financial performance, and significant organic growth potential. We believe Dick's market position and size as a leading big-box sporting goods retailer provides it with a sustainable competitive advantage offering one of the broadest and deepest assortments of leading brands, as well as a robust private brand/label offering."

Dick's Sporting Goods closed at $47.77 on Monday.

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