Designer Brands price target raised to $11 from $10 at UBS

UBS raised the firm’s price target on Designer Brands to $11 from $10 and keeps a Neutral rating on the shares. Designer Brands has a solid position as one of the largest fashion footwear retailers in the U.S., but faces increasing competition from online pure-play retailers and is a relatively mature business, the analyst tells investors in a research note. In addition, the firm notes that its earnings recovery will likely be more gradual than previously anticipated as suggested by its soft FY24 EPS guidance.