Jefferies Raises Price Target on Shoe Carnival (SCVL) to $29 Following Solid 2Q
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Jefferies reiterated a Hold rating on Shoe Carnival (NASDAQ: SCVL), and raised the price target to $29.00 (from $24.00), following the company's 2Q earnings report. SCVL reported EPS of $0.22, below the Street of $0.27, driven by a lighter comp of 0.5% vs. the Street 1.8%.
Analyst Randal Konik commented, "2Q reflected mixed category performance, with a resurgence in sandals offset by a slowdown in adult athletic. Similar to what we have heard from others, mgmt cited a later start to BTS; while we are encouraged by the improvement in trend QTD, this creates an inherent lack of visibility. We continue to see oppty in 2H (esp. 4Q), but believe guidance and valuation already capture much of this improvement. Maintain Hold, PT to $29."
Shares of Shoe Carnival closed at $29.66 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings, Randal Konik
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