Canaccord Genuity Reiterates a 'Buy' on Steven Madden (SHOO); Management Meetings Affirm Solid Growth Path
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Price: $45.71 -3.44%
Rating Summary:
15 Buy, 4 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
Rating Summary:
15 Buy, 4 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
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Canaccord Genuity reiterates a 'Buy' on Steven Madden (NASDAQ: SHOO) price target of $47.00.
Canaccord analyst, Camilo Lyon, said, "We hosted meetings with SHOO’s CEO Ed Rosenfeld. In keeping with its core competency, SHOO continues to execute on its growth objectives by remaining on-point with fashion. With that, we believe the primary drivers to sustaining growth will be development of the eight new footwear brands, further international expansion, growth of the accessories segment, and consistent outlet growth. Based on the multiple avenues contributing to top-line growth, we reiterate our rating."
"We estimate that the eight new brands added to SHOO’s portfolio could grow from $100M in sales today to $250M in three years via new door growth and expansion within existing doors."
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 $36.42 yesterday.
Canaccord analyst, Camilo Lyon, said, "We hosted meetings with SHOO’s CEO Ed Rosenfeld. In keeping with its core competency, SHOO continues to execute on its growth objectives by remaining on-point with fashion. With that, we believe the primary drivers to sustaining growth will be development of the eight new footwear brands, further international expansion, growth of the accessories segment, and consistent outlet growth. Based on the multiple avenues contributing to top-line growth, we reiterate our rating."
"We estimate that the eight new brands added to SHOO’s portfolio could grow from $100M in sales today to $250M in three years via new door growth and expansion within existing doors."
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 $36.42 yesterday.
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