In a report published Monday, Sterne Agee analyst Sam Poser downgraded the rating on Steven Madden Ltd. SHOO from Buy to Neutral, and removed the $51.00 price target.
In the report, Sterne Agee noted, “The stock is priced for perfection and is trading at our previous price target of $51. Current trends continue to be robust and management is making the right moves. Industry-leading inventory turnover, strong brand recognition, and strong track record of delivering on guidance are currently well understood by investors.”
Steven Madden Ltd. closed on Friday at $50.67.
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