Fly News Breaks for February 28, 2020
Feb 28, 2020 | 09:04 EDT
Loop Capital analyst Laura Champine lowered the firm's price target on Steven Madden to $37 from $48 but keeps a Buy rating on the shares. The analyst points to the company's "disappointing" Q4 results and lower than expected 2020 guidance, with especially "surprising" weakness in its wholesale channels. Champine is cutting her FY20 EPS view on Steven Madden to $1.77 from $2.14, but expects the company to recover more quickly from the impact of coronavirus on supply chains.
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