Auriga Reiterates a 'Buy' on Steven Madden (SHOO); Positive Take-aways From CEO Meeting
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Price: $39.71 --0%
Rating Summary:
10 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 6
Rating Summary:
10 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 6
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Auriga reiterates a 'Buy' on Steven Madden (NASDAQ: SHOO) price target of $50.00.
Analyst, Claire Gallacher, said, "We spent yesterday with Steve Madden CEO Ed Rosenfeld and believe SHOO has multiple growth opportunities ahead. These include door and SKU growth of nine new brands, international opportunities with a specific focus on Canada, outlet store growth, ecommerce and the potential for future acquisitions. We believe SHOO is a unique company and would be buyers of the stock. Positive take-aways from our day with CEO Ed Rosenfeld. We spent yesterday with Steve Madden CEO Ed Rosenfeld and believe SHOO has multiple growth opportunities ahead. New brands topped the list. SHOO added nine new brands since 2009 and we believe these brands offer SHOO compelling growth opportunities going forward. We estimate Betsey Johnson, Madden, Material Girl, Big Buddha, Olsonboye, Elizabeth & James, Cejon, Report and Superga currently account for just over $100mm in revenue. We believe these brands could reach $200mm in revenue over 3-5 years through new door growth and expansion of existing lines. International: Canada could be a big growth vehicle . International totals approximately $58mm in revenue on a TTM basis and increased 50%+ annually for the past 12 months."
For an analyst ratings summary and ratings history on Steven Madden click here. For more ratings news on Steven Madden click here.
Shares of Steven Madden closed at $40.11 yesterday.
Analyst, Claire Gallacher, said, "We spent yesterday with Steve Madden CEO Ed Rosenfeld and believe SHOO has multiple growth opportunities ahead. These include door and SKU growth of nine new brands, international opportunities with a specific focus on Canada, outlet store growth, ecommerce and the potential for future acquisitions. We believe SHOO is a unique company and would be buyers of the stock. Positive take-aways from our day with CEO Ed Rosenfeld. We spent yesterday with Steve Madden CEO Ed Rosenfeld and believe SHOO has multiple growth opportunities ahead. New brands topped the list. SHOO added nine new brands since 2009 and we believe these brands offer SHOO compelling growth opportunities going forward. We estimate Betsey Johnson, Madden, Material Girl, Big Buddha, Olsonboye, Elizabeth & James, Cejon, Report and Superga currently account for just over $100mm in revenue. We believe these brands could reach $200mm in revenue over 3-5 years through new door growth and expansion of existing lines. International: Canada could be a big growth vehicle . International totals approximately $58mm in revenue on a TTM basis and increased 50%+ annually for the past 12 months."
For an analyst ratings summary and ratings history on Steven Madden click here. For more ratings news on Steven Madden click here.
Shares of Steven Madden closed at $40.11 yesterday.
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