Caleres price target raised to $35 from $30 at Piper Sandler

Piper Sandler raised the firm’s price target on Caleres to $35 from $30 and keeps a Neutral rating on the shares. The firm notes that an operating margin miss yet solid full year 2024 guidance kept Caleres stock afloat post Q4 earnings. Piper thinks the operating margin miss was a bit lost behind Q4’s EPS beat, and has some questions on the level of investment needed to power growth, especially at the Brand Portfolio.