Designer Brands price target raised to $4 from $3 at UBS

UBS raised the firm’s price target on Designer Brands (DBI) to $4 from $3 and keeps a Neutral rating on the shares. While the firm’s analysis indicate Designer Brands’ fundamentals modestly improved over the course of Q2, this is fairly reflected in Street EPS forecasts, the analyst tells investors in a research note. UBS expects solid Q3-to-date commentary given robust Back-to-School season demand, but thinks the market has similar expectations and doesn’t believe the Q2 report will drive major changes to Street FY25 EPS estimates or sentiment.