Sterne Agee Upgrades DSW Inc. (DSW) to Buy

Sterne Agee upgraded DSW Inc. (NYSE: DSW) from Neutral to Buy with a price target of $39.00.

Analyst Sam Poser comments, "DSW is a well-run company that is handling the lack of trends in women's footwear and the cold spring issues well. We expect FY14 guidance to be lowered from $1.80-$1.95 to ~$1.75-$1.90. We expect 1Q14/2Q14 SSS to be -0.9%/+0.5%, respectively, vs. our prior SSS estimates of -0.4%/+1%. Valuation, clean inventories, store growth, and an expectation for increased capital allocation give us confidence to make this upgrade. Lowering FY14/FY15 EPS estimates from $1.88/$2.29 to $1.86/$2.28."

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

Shares of DSW Inc. closed at $32.70 yesterday.

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