Wedbush Starts Steven Madden (SHOO) at Neutral; Already Priced for Continued Fashion Momentum

Wedbush initiates coverage on Steven Madden (NASDAQ: SHOO) with a Neutral. PT $48.00.

Analyst, Corinna Freedman, said, "We believe the shares are appropriately valued and our near term outlook and earnings estimates are in-line with current consensus estimates. We believe the company’s fast fashion business model and test-and-react strategy make it unique among footwear manufacturers and we are optimistic that the company will continue to post strong topline and earnings."

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 $43.68 yesterday.

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