Citi raises Steven Madden price target to $55 after Q2 beat

Citi analyst Paul Lejuez raised his price target on Steven Madden (NASDAQ: SHOO) to $55 from $45, while maintaining a Buy rating, according to a analyst note.

The move follows Steven Madden's second-quarter results, in which the company beat consensus estimates on sales and gross margin and raised its full-year guidance. Management also lifted second-half revenue expectations.

Lejuez noted that while the company raised its fiscal 2026 earnings per share guidance by less than the size of the beat, due to incremental freight costs partially offset by better underlying expectations, he expects guidance to prove conservative. His EPS estimate stands at $2.32, compared to the company's guidance range of $2.05 to $2.15.

The analyst cited broad-based fashion trends benefiting sales across a variety of footwear and handbag silhouettes as a factor in the company's performance.

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