KeyBanc Upgrades DSW Inc. (DSW) to Overweight

KeyBanc upgraded DSW Inc. (NYSE: DSW) from Sector Weight to Overweight with a price target of $39. Analyst Jessica Schmidt noted favorable fashion trends.

"We think DSW will benefit from a reemergence in fashion footwear and expect underlying trends to improve from strategic investments taken over the last 18 mos. We expect new fashion trends to accelerate in the 2H; we are raising our EPS ests and believe it will return to its +LDD earnings growth. While we think difficult weather conditions in the Midwest this summer may weigh on 2Q performance, we believe investor expectations have largely accounted for this potential weakness (DSW’s stock price is -12% in the last 3 mos vs. +8% for the RLX) and find valuation attractive," said Schmidt.

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 $32.16 yesterday.

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