Shoe Carnival (SCVL) PT, Estimates Raised at Sterne Agee on Strong Q3

Sterne Agee analyst Sam Poser raised estimates and his price target on Buy-rated Shoe Carnival (NASDAQ: SCVL) to $25.00 (from $23.00) following strong Q3 results.

Poser commented, "SCVL has hit a positive inflection point. Through national advertising, expanded e-commerce capabilities, and improvement in the functionality of its mobile app, SCVL should be able to create a strong relationship with its customers, and drive improved sales and margins for some time to come. Improved assortments, especially in boots, combined with an improving national advertising effort, drove SSS well above guidance, as well as a step up in e-commerce momentum. All three months had positive SSS. Current trends continue to improve. Guidance appears quite conservative."

The firm raised FY14/FY15/FY16 EPS estimates from $1.18/$1.43/$1.59 to $1.24/$1.50/$1.71.

For an analyst ratings summary and ratings history on Shoe Carnival click here. For more ratings news on Shoe Carnival click here.

Shares of Shoe Carnival closed at $19.62 yesterday.

You May Also Be Interested In

• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$231 at Bernstein SocGen
• CFRA Starts SpaceX (SPCX) at Sell, 'Our primary concern is that SpaceX’s long-term strategy remains heavily dependent on Starship'
• Rackspace Technology Inc. (RXT) PT Raised to $5.50 at UBS