Destination XL price target lowered to $4 from $6 at DA Davidson

DA Davidson lowered the firm’s price target on Destination XL to $4 from $6 and keeps a Buy rating on the shares. The company’s earnings miss this quarter was driven by lower traffic and online conversion, as Destination XL says their core customer is shopping less given economic uncertainty, the analyst tells investors in a research note. The firm adds however that beyond the near term pressures, the management team is making the right investments to increase customer awareness and add consumer touchpoints.