Soleil Securities Cuts Price Target on Collective Brands (PSS) Due to Current Market Trends

Soleil Securities is maintaining its Buy rating on shares of Collective Brands (NYSE: PSS) but is lowering its price target from $28 to $25 due to current market trends.

The firm is lowering its FY12 and FY13 EPS estimates by $0.15 to $1.80 and $2.05 on higher sourcing costs, weather, and rising gas prices. PSS has 300 stores in Canada where weather was extremely bad this past winter.

After reviewing footwear margins from other vendors such as Nike (NYSE: NKE) and Timberland (NYSE: TBL), the firm believes that its prior margin assumption might be too high for wholesale division.

For more ratings news on Collective Brands click here and for the rating history of Collective Brands click here.

Shares of Collective Brands closed at $19.09 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies Downgrades IDP Education (IEL:AU) (IDPUF) to Hold
• Nutanix (NTNX) PT Raised to $80 at Oppenheimer Into EPS
• Oppenheimer Reiterates Outperform Rating on NVIDIA (NVDA) Into EPS