Caleres price target raised to $45 from $40 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Caleres to $45 from $40 and keeps a Buy rating on the shares after its Q4 earnings beat. The company has now posted a third consecutive year of above $4 per share in EPS, and while the management has guided Q1 below consensus, the outlook is “conservative” in assuming a declining footwear market this year, the analyst tells investors in a research note. Caleres valuation is also “not demanding” even without much growth at 9-times expected 2024 earnings and 7-times on enterprise value to expected EBITDA, the firm added.