Designer Brands price target raised to $14 from $8 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Designer Brands to $14 from $8 and keeps a Market Perform rating on the shares. The company’s Q2 results were “encouraging,” given the company was able to maneuver a choppy consumer backdrop and deliver a beat across sales, gross margin, and expenses, the analyst tells investors. Management warned its topline outlook assumes some improvement in the second half of the year and there is still risk that macro and consumer trends can deteriorate, the firm says.