The Buckle downgraded to Sell at UBS on sales and earnings challenges

As previously reported, UBS analyst Mauricio Serna downgraded The Buckle to Sell from Neutral with a price target of $34, down from $37. Persistent topline challenges will likely cause the company’s earnings to miss the market’s expectations, the analyst tells investors. More broadly for the U.S. softlines retail group, the firm thinks the “next move is likely down,” but it adds that it expects a big volatility year.