Auriga Reiterates a 'Buy' on Steven Madden (SHOO); Raising PT Following Solid Q4

Auriga reiterates Buy Steven Madden (NASDAQ: SHOO) price target raised from $45 to $50.

Auriga analyst says, "We are increasing our price target on SHOO to $50 following a solid Q4 earnings report and the expectation that SHOO is well positioned to report another year of solid growth. Organic sales growth in Q4 was +19%, with similar gains for both footwear and accessories. Comps at company owned retail stores rose 15.9%. Our 2012 EPS estimate of $2.69 is 19% growth vs. 2011 and our new 2013 EPS estimate of $3.08 calls for gains of 15%."

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 $42.20 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• SanDisk upgraded at JPMorgan after investor day; shares climb