Needham & Company Starts DSW Inc. (DSW) at Buy

Needham & Company initiates coverage on DSW Inc. (NYSE: DSW) with a Buy rating and a price target of $29.00.

Analyst Rick Patel comments "Following years of choppy performance, we believe DSW is on strong footing with positive comps that we anticipate will continue. We see growth coming from the addition of new customers (as DSW expands kids, builds new stores, and expands into Canada) and existing ones on higher conversion (enhanced Rewards program, higher attachment rates with kids product, omni-channel capabilities driving digital sales and store traffic, and strong product momentum). New store initiatives should also strengthen its footprint. We think investments this year could limit margin upside, but we view these as the right moves to create a stronger business for the long term."

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 $26.06 yesterday.

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