Auriga Reiterates a 'Buy' on Steven Madden (SHOO); Q4 Preview

Auriga reiterates a 'Buy' on Steven Madden (NASDAQ: SHOO) price target of $45.00.

Auriga analyst says, "We are maintaining our Q4 EPS estimate of $0.54 for SHOO ahead of Q4. Checks pointed to a strong fall/holiday season with an on-trend boot offering. We expect SHOO to guide 2012 in a range at or above our $2.71 EPS estimate, representing 21% earnings growth versus 2011. We expect that SHOO should continue to generate strong revenue and earnings from its on-trend footwear and accessories offerings. We believe SHOO remains aggressive with its pursuit of acquisitions and another announcement is possible in the next several quarters."

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 $40.05 yesterday, with a 52 week range of $27.80-$58.01.

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