UPDATE: Jefferies Initiates Coverage on The Fresh Market with Hold Rating, $54 PT on Valuation

In a report published Tuesday, Jefferies analyst Mark Wiltamuth initiated coverage on The Fresh Market TFM with a Hold rating and $54.00 price target. In the report, Jefferies noted, “We are attracted to The Fresh Market's long runway for 15% store expansion, 20% EPS growth and strong ROIC, but we believe the company's entry into California raises enough questions on new store productivity and logistics to keep valuation in check. Initiate at Hold.” The Fresh Market closed on Monday at $49.92.