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Fly News Breaks for December 11, 2019
DBI
Dec 11, 2019 | 07:32 EDT
Needham analyst Rick Patel lowered his price target on Designer Brands to $17 after its Q3 earnings miss and a cut in its FY19 guidance. The analyst is citing the management's "execution missteps" in DSW and Camuto brands with low expectation of improvement over the next couple of quarters. Patel still keeps his Buy rating on the shares however, stating that the bar for FY20 has been set "very low" and the outlook now reflects a difficult Q4 as well as tariff pressure.
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