Canaccord Genuity Reiterates a 'Buy' on Steven Madden (SHOO); Dinner with CEO - Proof Positive
Tweet Send to a FriendGet Alerts SHOO Hot Sheet
Price: $48.52 --0%
Rating Summary:
6 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 12
Rating Summary:
6 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 12
Trade SHOO Now!
Canaccord Genuity reiterates a 'Buy' on Steven Madden (NASDAQ: SHOO) price target of $53.00.
Analyst, Camilo Lyon, said, "We had the pleasure of hosting a dinner with SHOO’s CEO Ed Rosenfeld at MAGIC. Similar to commentary made at our Global Growth Conference last week, overall business trends seem to have improved since Q2. Early reads on boots from the Nordstrom (NYSE: JWN) anniversary sale were “outstanding” as SHOO had the #1 selling boot (Troopa for $99) among both full price and sale items. Riding boots were also popular at ASPs of $159-$179. We believe SHOO is well positioned to optimize on current trends (boots, studs, color, and casual) well into 2013, and thus reiterate our rating."
Benefits from other retailers include: Macy's (NYSE: M), DSW (NYSE: DSW) and Target (NYSE: TGT)
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 $42.62 yesterday, with a 52 week range of $27.80-$45.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Camilo Lyon, said, "We had the pleasure of hosting a dinner with SHOO’s CEO Ed Rosenfeld at MAGIC. Similar to commentary made at our Global Growth Conference last week, overall business trends seem to have improved since Q2. Early reads on boots from the Nordstrom (NYSE: JWN) anniversary sale were “outstanding” as SHOO had the #1 selling boot (Troopa for $99) among both full price and sale items. Riding boots were also popular at ASPs of $159-$179. We believe SHOO is well positioned to optimize on current trends (boots, studs, color, and casual) well into 2013, and thus reiterate our rating."
Benefits from other retailers include: Macy's (NYSE: M), DSW (NYSE: DSW) and Target (NYSE: TGT)
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 $42.62 yesterday, with a 52 week range of $27.80-$45.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Michael Kors (KORS) Under-Appreciated; Canaccord Genuity Starts at Buy
- In-Line Q4 Results Expected for NetApp (NTAP); Elliott Investment Will Take Time to Pan Out
- Needham & Company Lifts Numbers on 3D Systems (DDD) on Offering, RDPG Deal
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Canaccord Genuity
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
