Piper Sandler lowered the firm’s price target on Steven Madden (SHOO) to $25 from $35 and keeps a Neutral rating on the shares. The firm cites 145% tariffs on China and 10% on other countries. On average for its coverage for 2025/2026, Piper cut EPS estimates by 14% as “we flow 25% of the cost pressure through the P&Ls.” The firm also adjusted sales lower as a recessionary scenario would pressure demand.
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