Sterne Agee Reiterates Buy Rating, $30 PT on Shoe Carnival on Mixed Factors

In a report published Monday, Sterne Agee analyst Sam Poser reiterated a Buy rating and $30.00 price target on

. In the report, Sterne Agee noted, “Reiterate Buy rating. While we were disappointed with top-line results, margins and expenses were managed well. QTD SSS sales are running up 1%, but are accelerating. August comparisons are the most difficult. If the late 3Q and 4Q weather is not as warm as in the past 2 years, and a 75 store test of better women's product is successful, we would expect both our estimates and guidance to prove conservative. Lowering FY13 & FY14 EPS estimates from $1.57 & $1.93 to $1.52 & $1.89.” Shoe Carnival closed on Friday at $25.39.