Soleil Securities Upgrades Shoe Carnival (SCVL) to Buy; Raises FY12 EPS Estimates

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March 18, 2011 7:27 AM EDT
Get Alerts SCVL Hot Sheet
Price: $17.43 --0%

Rating Summary:
    4 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 11 | New: 32
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Soleil Securities upgraded Shoe Carnival (NASDAQ: SCVL) from Hold to Buy. PT increased from $28 to $32.

Soleil analyst says, "The catalysts are improved sales visibility for SCVL and the industry for spring and compelling valuation relative to historic...Fashion trends for spring are favorable: sandals, technical running and lightweight running. A late Easter should help. Store growth to be accelerated to 20 new stores from 10. Capacity to grow is limited only by new commercial retail real estate construction. Company has no debt and $87 million in cash... Est Raised for FY12E Increased to $2.20."

For more ratings news on Shoe Carnival click here and for the rating history of Shoe Carnival click here.

Shares of Shoe Carnival closed at $25.86 yesterday.

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