(Corrects 4th paragraph to show Societe Generale cut, did notraise, target price)
MILAN, Jan 30 (Reuters) - Shares in Tod's fell morethan 5 pct on Thursday after the Italian luxury shoemaker postedfull-year sales that missed analyst estimates.
The group said after Wednesday's market close that revenuetotalled 979.2 million euros ($1.34 billion) in 2013, comparedwith a Thomson Reuters SmartEstimate of around 985 millioneuros, hit by weak sales in its main market of Italy and achange in strategy at its wholesale division.
"We believe the valuation looks stretched consideringon-going scope for further estimate downgrades. We thereforeremain cautious," said Cantor Fitzgerald analyst Allegra Perry.
Investment banks UBS, JP Morgan andBarclays cut their price targets for the stock. SocieteGenerale also cut its target price, with a "sell"rating. (Reporting by Isla Binnie; Editing by Francesca Landini)