SHOO - Steven Madden lands higher price target from Telsey after earnings beat

Telsey Advisory Group bumps up its price target on Steven Madden (SHOO) to $39 from $36, while keeping a Market Perform rating in place.Analyst Dana Telsey: "SHOO's ability to quickly adjust to consumer conditions should assist in navigating the ongoing challenges to visibility in 2021 as it utilizes its test-and-react strategy and speed-to-market capabilities to adjust its product mix. The company has controlled overall expenses and invested in its digital capabilities while managing inventory levels down. However, we continue to view the company's exposure to the wholesale channel and a relatively high penetration of dress/occasion footwear as headwinds in the current environment, while supply chain disruptions and higher freight and other costs look to weigh on near-term results."Steven Madden topped estimates on both lines of its Q4 report.

For further details see:

Steven Madden lands higher price target from Telsey after earnings beat