Why Designer Brands Stock Sprinted Higher Today
Shares of Designer Brands (NYSE: DBI) have sprinted higher today, up by 12% as of 12:50 p.m. EST, after getting an upgrade from Wall Street. Susquehanna boosted its rating on the shoe retailer from negative to neutral.
Analyst Sam Poser had downgraded Designer Brands to negative less than a month ago, reducing his price target from $5.50 to $4.30. With the stock trading within a penny of that valuation estimate a couple days ago, Susquehanna is moving "back onto the sidelines." The analyst kept the same $4.30 price target with the new rating.
Image source: Designer Brands.
Source Fool.com