Caleres (CAL) Tops Q4 EPS by 3c, FY16 EPS Guidance Falls Short
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Caleres (CAL) Outlook Likely Conservative But Maintaining Hold - Jefferies
March 17, 2016 9:10 AM EDTJefferies analyst, Edward Plank, is maintaining his Hold rating on Caleres (NYSE: CAL) despite a strong quarter. The weak outlook that prompted a sell off is likely conservative but it makes sense to wait for more clarity. No change to Hold rating, PT drops to $30 from $32.
CAL's solid 4Q results were outweighed by a cautious, but appropriately conservative, outlook for FY'17, given the cautious initial order backdrop as retailers exited a challenging qtr. As inventory works... More
