DSW Inc. was downgraded to neutral from outperform at Wedbush on concerns that warm weather could thwart boot sales. Its price target was lowered to $20 from $23. Wedbush analysts led by Christopher Svezia note the unseasonably warm weather in many metro areas where DSW operates. “We felt a good start to the season in October would set-up a chase environment and lead to upside in comp and margins,” the Wednesday note said. “Given the slower start from uncooperative weather, it caps some of the upside that we hoped would have developed during the second half.” DSW shares are down 2.1% in Wednesday premarket trading, and down 15.5% for the year so far. The S&P 500 index is up 15% for 2017 to date.
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