MKM Partners analyst Patrick McKeever raised his price target on Cato Corp to $23 ahead of its June results tomorrow, saying comps will likely remain positive even though they will decelerate "significantly" from the 9% increase in May when they were driven by pent-up weather-related demand. The analyst anticipates June SSS to rise 3%-5% and July to increase 2%-4%, adding that while the company is seeing some improvement on "very easy comparisons" to 2017, its business model still faces significant long-term challenges. McKeever keeps his Neutral rating on Cato Corp.