Caleres price target lowered to $30 from $45 at Loop Capital

Loop Capital lowered the firm’s price target on Caleres to $30 from $45 and keeps a Hold rating on the shares after the company’s Q2 earnings miss, below-consensus Q3 guidance, and it’s 2024 guidance cut. Moving into the second half of the year, the firm’s concerns include election news cycles and five fewer calendar days between Thanksgiving and Christmas, the analyst tells investors in a research note. These factors may lead to cautious wholesale orders from the company’s department store and shoe store customers, many of which are losing share to off-price retailers, Loop added.