Wunderlich Securities Has Continued Positive Outlook On Steven Madden

In a report published Thursday, Wunderlich Securities analyst Danielle McCoy reiterated a Buy rating and $39.00 price target on Steven Madden, Ltd. (NASDAQ: SHOO).

In the report, Wunderlich Securities noted, "We are reiterating our Buy rating and $39 target, and are lowering our FY15 and FY16 EPS estimates to $1.78 (from $1.93) and $2.32 (from $2.37), respectively, with Steven Madden (SHOO) scheduled to report 4QFY14 earnings on Tuesday, February 24, before the open. Since the company's pre-announcement in mid-January, initial reads on Spring products remain better than last year, but West Coast Port issues have worsened. Although SHOO is somewhat impacted in a greater way compared to peers due to its quicker turn model, we view this as one-time in nature and don't believe this speaks to the strength of the company's brands and operational expertise. We continue to believe management is focused on building the business for the future and we reiterate our Buy rating on SHOO."

Steven Madden closed on Wednesday at $35.42.