Williams Trading last night upgraded Steven Madden (SHOO) to Buy from Hold with a $31 price target Trends, especially in women’s dress shoes and western boots, “are starting to move Steve Madden’s way,” the analyst tells investors in a research note. Also, clips from Steve Madden’s, the company’s founder and design Chief, May 21 appearance on The Cutting Room Floor podcast has gotten over 24M views, the firm points out. Williams believes the combination of a resurgence of women’s dress shoes and the reintroduction of Steve Madden will drive more interest to the brands, and give the company some leverage with its wholesale accounts.
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