UPDATE: Goldman Sachs Raises Price Target On Steve Madden on Potential Capital Allocation Outcomes

In a research report published on Tuesday, Goldman Sachs analyst Taposh Bari raised the price targe on

from $40 to $43 and maintained its Rating on the company of Sell. In the report, Goldman Sachs stated, "We believe Sell-rated SHOO's annual shareholder meeting, this Friday 5/24/13, serves as a potential capital allocation catalyst, likely in the form of an increased buyback authorization...While the company has the ability to repurchase more, we believe management remains focused on growth through acquisition." Steve Madden closed Monday at $48.58 and is currently trading down 0.27 percent since market open hours.