UPDATE: Williams Trading Starts Shoe Carnival (SCVL) at Buy
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Williams Trading analyst Sam Poser initiates coverage on Shoe Carnival (NASDAQ: SCVL) with a Buy rating and a price target of $59.00.
The analyst comments "Buy SCVL. Shoe Carnival is, and will continue to be, the best retailers in the family footwear space. On the back of an industry leading CRM, improving consumer engagement, a targeted product assortment, and clean inventory, SCVL took market share throughout the pandemic, while expanding margins, and will continue to gain share as the impact of the pandemic lessens. Further, Nike's (NKE - Buy - $175 PT) decision to no longer sell a number of retailers with presence in SCVL markets, and the strong likelihood further distribution editing by NKE, positions SCVL well in FY21 and beyond."
Shares of Shoe Carnival closed at $47.46 yesterday.
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