Steven Madden price target raised to $26 from $24 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Steven Madden (SHOO) to $26 from $24 and keeps a Market Perform rating on the shares. Second quarter results were a “mixed bag,” with sales and expenses missing expectations, which were partially offset by a stronger gross margin, the analyst tells investors. The firm notes Steven Madden is one of the more exposed companies in its coverage that source from China and the lack of outlook commentary highlights the lack of visibility in the second half of the year.