Wunderlich Securities Sees Brown Shoe Company Entering Phase Two

In a report published Thursday, Wunderlich Securities analyst Danielle McCoy reiterated a Buy rating and $38.00 price target on

. In the report, Wunderlich Securities noted, "We are reiterating our Buy rating, $38 price target, and FY15 and FY16 estimates with Brown Shoe Company (BWS) scheduled to report its fiscal 4Q15 results on Wednesday, March 11, before the open. As 4Q represents the smallest quarter of the year for the company, generating ~10% of annual earnings, we are focused on FY16 initiatives that should kick-start Phase Two of BWS's turnaround. With solid results over the past three years, we believe BWS has proven its ability to restructure the business from product design to operations. With a solid operating platform in place, we believe BWS is well positioned (and equipped) to embark on Phase Two of its turnaround and achieve (and potentially exceed) its 8% long-term operating margin target." Brown Shoe Company closed on Wednesday at $32.45.