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NEW YORK (TheStreet) -- DSW (DSW) - Get Designer Brands Inc. Class A Report stock is down by 0.13% to $23.48 in mid-morning trading on Wednesday, after the company's price target was reduced to $26 from $44 at Credit Suisse.

The firm maintained its "outperform" rating on DSW despite weak quarterly results because of the footwear retailer's earnings growth potential in fiscal 2016.

"We believe structural opportunities still exist for this business, given our favorable stance on their underlying positioning in the value footwear space, but believe visibility into earnings power will be delayed into fiscal year 2016," Credit Suisse said in an analyst note.

Before the market open on Tuesday, DSW reported earnings of 44 cents per share for the fiscal 2015 third quarter, missing estimates by 11 cents, and revenue of $666 million, falling short of estimates of $709 million.

"DSW reported weak results in a challenging cyclical and weather environment that is also expected to flow through into the fourth quarter," analysts added.

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

TheStreet Recommends

We rate DSW INC (DSW) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and disappointing return on equity.

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

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.