As previously reported, Telsey Advisory upgraded Steven Madden (SHOO) to Outperform from Market Perform with a $43 price target ahead of next week’s earnings report. The firm, which believes Steven Madden has “been bringing trend-right products to market quickly,” while growing its apparel and accessories business and expanding internationally, believes Kurt Geiger should be a nice complement to the existing business next year and views the company as well positioned to benefit from a potential cyclical improvement in the fashion segment.
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