From Earlier: Citi Reiterates Steven Madden Buy on Strong Deliverables

Citi reiterated its Steven Madden SHOO Buy rating in a research report today on the heels of meeting with company CEO and Chairman Ed Rosenfeld and the company's merchandise team. Citi has a $50 price target on the company. In the report, Citi stated, "We reiterate Buy as Steven Madden appears to be delivering desireable trends faster than competitors at a strong value pricepoint. We believe this will drive upside to 2H sales and margins. . .We expect the fall to be a solid fashion boot year with a new focus on studs and tribal prints and booties." Shares of Steven Madden closed today at $39.44, down 0.48% from Thursday's market close.