Steven Madden gains after Needham upgrades to 'buy'
ReutersJan 8, 2026 1:31 PM
Shares of shoe and handbag maker Steven Madden SHOO.O up 2.6% at $45.17 premarket
Needham upgrades stock to "buy" from "hold", raises PT to $50
New PT represents ~14% upside to stock's last close
Brokerage says changing fashion trends, with consumers moving away from athleisure and renewed interest in "dress up", "clothes to wear to work" themes, will lift co’s performance in 2026
Adds SHOO will also benefit from accretion driven by recently acquired Kurt Geiger business
6 of 9 brokerages rate stock "buy" or higher, 3 "hold"; median PT is $45 - data compiled by LSEG
Stock fell ~2% in 2025
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