Williams Trading last night upgraded Shoe Carnival to Buy from Hold with a price target of $22, up from $19. The firm views the company's CEO change as "very positive." Cliff Sifford "is one of the most respected and knowledgeable executives in footwear retail," the analyst tells investors in a research note. Williams thinks Sifford's vendor relationships will facilitate "more efficient conversions" of Shoe Carnival stores to Shoe Station stores.
