NEW YORK (TheStreet) -- Shares of DSW (DSW) - Get Report are down 1.89% to $37.41 in early morning trading Wednesday despite Credit Suisse's increase in price target to $44 from $41, while reiterating its "outperform" rating. 

"We remain optimistic about the path that DSW is on, and while we believe there are still some questions about the evolving margin profile of this business, we see pockets of conservatism within guidance for 7% to 12% 2015 earnings growth," Credit Suisse said. 

The footwear and accessories retailer's 2015 fourth quarter results and outlook provided some clear signs of progress, analysts said, adding that this progress was the result of efforts to reposition the women's assortment, upgrade the value proposition, and improve their marketing message.

"While DSW's top line has been more volatile historically, owing to seasonal and fashion aspects of this category, the company offers high single digit unit growth along with easy comparisons and a number of self-improvement opportunities in 2015," the firm noted. 

Credit Suisse said that DSW should be in a position where strategic pricing changes are offset by reduced markdowns, while their are opportunities for less drags from shipping as the company optimizes its processes.  

Analysts revised their 2015 fiscal year earnings estimates to $1.87 from $1.97 per share due to the expense issues that the retailer faces.  

Separately, TheStreet Ratings team rates DSW INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate DSW INC (DSW) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: DSW Ratings Report

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