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Fly News Breaks for October 3, 2019
CAL
Oct 3, 2019 | 08:56 EDT
Loop Capital analyst Laura Champine raised her price target on Caleres to $30 and kept her Buy rating after its Analyst Day, saying the company is forecasting bigger margin expansion in its Famous Footwear division than she had expected. The analyst adds that it may take a quarter for the management to make sources adjustments and negotiate with vendors to offset the latest tariff increases, but she finds the 8-times forward earnings estimate multiple on Caleres stock "attractive".
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