Wedbush Upgrades Steven Madden (SHOO) to Outperform; Valuation Compelling as Retail Fears Overdone
Tweet Send to a FriendGet Alerts SHOO Hot Sheet
Price: $48.81 +0.60%
Rating Summary:
6 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
6 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade SHOO Now!
Wedbush upgraded Steven Madden (NASDAQ: SHOO) from Neutral to Outperform with a price target of $42.00 (from $48.00).
Analyst, Corinna Freedman, said, "We are raising our rating on shares of SHOO to OUTPERFORM as we believe that the shares are oversold. Expectations during the quarter grew increasingly negative based on lackluster sales of summer seasonal footwear in the DTC channel and implications for Fall wholesale orders - concerns which we believe are overblown as retail comps were reported at +6.8% for the quarter...We are raising our estimate to $2.76 from $2.72 for 2012 to include the expected tax benefit."
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 $32.79 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, Corinna Freedman, said, "We are raising our rating on shares of SHOO to OUTPERFORM as we believe that the shares are oversold. Expectations during the quarter grew increasingly negative based on lackluster sales of summer seasonal footwear in the DTC channel and implications for Fall wholesale orders - concerns which we believe are overblown as retail comps were reported at +6.8% for the quarter...We are raising our estimate to $2.76 from $2.72 for 2012 to include the expected tax benefit."
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 $32.79 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
- Goldman Sachs Upgrades Meritor (MTOR) to Buy
- UPDATE: Vanda Pharmaceuticals (VNDA) Opens Higher; Lazard Raises PT to $17
- UPDATE: Leerink Swann Upgrades Bristol-Myers Squibb Co. (BMY) to Outperform
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, Upgrades
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!
