Canaccord Genuity Reiterates a 'Buy' on Steven Madden (SHOO); Growth in Emerging Brands and Int'l Expansion
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Price: $46.08 +0.81%
Rating Summary:
15 Buy, 4 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 4 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Steven Madden (NASDAQ: SHOO) price target raised from $50 to $53.
Analyst, Camilo Lyon, said, "SHOO reported good Q1 EPS results of $0.50, in line with consensus but shy of our $0.52 as stronger sales were offset by lower than projected gross margins stemming from customer mix shift. To us, this quarter was another demonstration of SHOO executing at a high level. We believe long term organic mid-teens sales growth is supported by on point fashion, growth of its emerging brands (e.g. Betsey Johnson) and international expansion in excess of 50% for the next 2-3 years."
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 $43.63 yesterday.
Analyst, Camilo Lyon, said, "SHOO reported good Q1 EPS results of $0.50, in line with consensus but shy of our $0.52 as stronger sales were offset by lower than projected gross margins stemming from customer mix shift. To us, this quarter was another demonstration of SHOO executing at a high level. We believe long term organic mid-teens sales growth is supported by on point fashion, growth of its emerging brands (e.g. Betsey Johnson) and international expansion in excess of 50% for the next 2-3 years."
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 $43.63 yesterday.
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