Steven Madden price target lowered to $44 from $50 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Steven Madden (SHOO) to $44 from $50 and keeps a Market Perform rating on the shares. While the overall global macro-operating environment remains uncertain, the increased guidance is an encouraging sign, the analyst tells investors. Additionally, the company’s ability to test and react to trends and chase demand in-season is a competitive advantage, the firm adds. The company’s relatively high sourcing exposure to China and tariffs, however, are an overall concern, the firm concludes.