The Buckle upgraded to Neutral from Sell at UBS

UBS upgraded The Buckle (BKE) to Neutral from Sell with a price target of $46, up from $31. The firm now sees less risk to The Buckle’s long-term earnings outlook and stock, saying the company’s Q3 comp sales have accelerated and recently inflected to positive. This should limit fixed cost deleverage and margin pressures while Buckle has shown merchandise margin resilience, the analyst tells investors in a research note.