UPDATE: Auriga Raises PT to $65 on DSW

Auriga increases its price target to $65 on Buy-rated DSW (NYSE: DSW) on expectations that 2012 will be a year of growth.

Auriga notes, "We believe DSW is poised to report a strong Q4 and provide a bullish outlook for 2012. We believe the warm start to spring could have generated consumer interest in pumps, sandals and flats that normally draw consumer interest closer to the Easter holiday. As part of its new spring assortment, DSW rolled out Converse's Jack Purcell collection. DSW announced in January that it ramped its store openings planned for 2012 to include 35-40 new locations compared with 17 store openings in 2011."

DSW closed at $56.17 a share on Tuesday.