Soleil Downgrades Collective Brands (PSS) to Hold
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Soleil Securities Group downgrades Collective Brands (NYSE: PSS) from Buy to Hold.
The firm said it is concerned with Collective Brands' exposure to litigation, specifically, an expected upcoming trademark infringement trial by K-Swiss (Nasdaq: KSWS), in addition to a case that is already under way that could total about $305 million in charges.
Considering such factors, Soleil believes investors will be reluctant to jump into Collective in front of another trial until more is known about the case.
Collective Brands, Inc., through its subsidiaries, engages in the wholesale and retail of footwear and related accessories worldwide. [BCS]
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