UPDATE: Jefferies Initiates Coverage on Dick's Sporting Goods with Hold Rating, $57 PT Awaiting Next Catalyst

In a report published Wednesday, Jefferies analyst John Marrin initiated coverage on Dick's Sporting Goods DKS with a Hold rating and $57.00 price target. In the report, Jefferies noted, “Although we like this growth story, we would look for additional earnings catalysts to emerge before getting involved. The shares have fully recovered from the selloff post 2Q-print, as the market responded to a report from management revealing an improvement in sales trend in early September and then supported by a strong presentation at the company's first Analyst Day in mid-September.” Dick's Sporting Goods closed on Tuesday at $52.81.