UPDATE: Sterne Agee Initiates DSW at Buy on Earnings and Revenue Outlook

Sterne Agee initiated DSW

with a Buy rating and a $75.00 price target. Sterne Agee noted, "We are initiating coverage of DSW with a Buy rating and $75 PT. DSW is the best-in-class big box retailer. The company should achieve above average earnings and revenue growth for the foreseeable future. New store growth, new systems and SG&A leverage will drive long- and short-term earnings expansion. We are forecasting FY13 & FY14 EPS of $3.94 & $4.56." DSW closed at $67.90 on Thursday.