Canaccord upgraded Dick's Sporting Goods to Buy and increased its price target to $48 from $46 on shares. Analyst Camilo Lyon was cautious on Dick's Sporting heading into its Q3 report last week on concerns of a significant reduction to guidance due to poor sell-through of cold weather gear. With Q3 out of the way, the analyst believes the worst-case scenario is reflected in the stock and more importantly, in Q4 guidance. With guidance now reset lower and the stock trading at a trough multiple, Lyon believe Dick's Sporting is set up to outperform over the coming year.