Shoe Carnival price target raised to $51 from $42 at Williams Trading

Williams Trading raised the firm’s price target on Shoe Carnival to $51 from $42 and keeps a Buy rating on the shares. The firm increased estimates ahead of the company’s Q2 report on September 5. Shoe Carnival will benefit, as channel checks indicate that more consumers are returning to stores and want key brands, the analyst tells investors in a research note. The firm says the company has strong relationships with national brands and little reliance on private label product. It expects Shoe Carnival’s guidance will be increased next week.