Caleres downgraded to Hold from Buy at Loop Capital

Loop Capital downgraded Caleres to Hold from Buy with an unchanged price target of $45. The shares have appreciated over 25% quarter-to-date and now trade near the price target, the analyst tells investors in a research note. The firm is also concerned about the election news cycle and the five fewer calendar days between Thanksgiving and Christmas. These factors may lead to cautious wholesale orders from Caleres’ department store and shoe store customers, contends Loop.