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Fly News Breaks for July 31, 2018
SHOO
Jul 31, 2018 | 11:02 EDT
Loop Capital analyst Laura Champine maintained a Hold rating on Steve Madden but raised her price target to $54 from $49 following the company's Q2 earnings report, telling investors in a research note that she thinks analysts' FY18 consensus estimate of $2.71 is "too far above" the company's guidance range, though she believes Steve Madden is "the most interesting and agile company" in footwear. Champine contends that the SSS recovery will not be a significant catalyst for shares, with retail at less than 20% of Steve Madden sales.
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