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Sterne Agee CRT Remains Bullish Following Investor Meetings with Caleres (CAL)

July 13, 2015 9:12 AM EDT
Get Alerts CAL Hot Sheet
Price: $41.03 -0.15%

Rating Summary:
    7 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Sterne Agee CRT maintains a Buy rating and $37.00 price target on Caleres, Inc. (NYSE: CAL) following investor meetings last week. Analyst Sam Poser is confident that CAL will achieve record operating margins this year.

Poser commented, "We hosted investor meetings last week with Diane Sullivan (CEO & Chairman), Ken Hannah (CFO), and Peggy Tharp (VP - Investor Relations). We came away confident that CAL will achieve record operating margins this year (we are forecasting 5.4%), and that the company is well on its way to achieving its 8% operating margin target. Details on when and how the 8% margin will be achieved will likely be spelled out at the investor meeting scheduled to be held in October. However, we do believe that the new CFO has the mandate to execute change, and given the recent upgrade by Moody's and S&P, a debt refinancing and acquisitions are certainly on the table. CAL is positioned to take on up to $1B if the right opportunity presents itself."

For an analyst ratings summary and ratings history on Caleres, Inc. click here. For more ratings news on Caleres, Inc. click here.

Shares of Caleres, Inc. closed at $32.20 yesterday.



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Sterne Agee, Standard & Poor's, Sam Poser