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Fly News Breaks for August 8, 2018
SHOO
Aug 8, 2018 | 07:09 EDT
Loop Capital analyst Laura Champine kept her Hold rating and $54 price target on Steve Madden after meeting with the company management at the FFANY show. She notes that its holiday shoe line-up is "solid" and generating enthusiasm from retailers, while the macro environment of improving employment and wage growth is also seen as favorable. Champine contends that Steve Madden has an "agile" position in the footwear sector, but its guidance range remains below the FY18 earnings consensus of $2.70 and warrants a neutral stance.
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