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Fly News Breaks for February 14, 2019
SHOO
Feb 14, 2019 | 08:29 EDT
Canaccord analyst Camilo Lyon removed Payless from his Steven Madden estimates in order take a more conservative view on earnings due to the former's potential bankruptcy filing. The analyst believes any impact to the stock should be short-lived, as the company has done well navigating these types of issues in the past and the impact to the stock has rarely lasted longer than a quarter. Lyon reiterated his Buy rating and lowered his price target to $39 from $41 on Steven Madden shares.
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