Steven Madden (SHOO) PT Lowered to $39 at Susquehanna, Says 'Buy'

Susquehanna analyst Sam Poser lowered the price target on Steven Madden (NASDAQ: SHOO) to $39.00 (from $64.00) while maintaining a Positive rating.

Poser is telling clients to buy the stock, saying they think FY18 guidance is conservative.

"Boot revenue in 2H18 will likely exceed the “flat” expectation built into FY18 guidance," he commented. "Momentum in fashion sneakers continues. We have adjusted our estimates and price target to reflect the 3/2 stock split and the expected impacts of tariffs on the handbag business."

You May Also Be Interested In

• Goldman Sachs Upgrades Plains GP Holdings, L.P (PAGP) to Neutral
• MaxLinear (MXL) PT Raised to $105 at Stifel
• Citi Downgrades Ecopetrol SA (EC) to Neutral