Caleres price target lowered to $16 from $17 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Caleres (CAL) to $16 from $17 and keeps a Hold rating on the shares. The shift in tariff policy was not contemplated in the company’s previous outlook, and the firm sees weaker gross margin as a result, the analyst tells investors in a research note. Higher tariffs will drive increased prices, and that will lead to some demand destruction in unit terms, Loop added.