Steven Madden price target raised by $10 at BTIG, here’s why

BTIG analyst Janine Stichter raised the firm’s price target on Steven Madden to $50 from $40 and keeps a Buy rating on the shares. After a volatile 2023, BTIG is incrementally more positive on the health of the consumer, which has seen a normalization in spending power from the post-COVID highs, but still largely remains in decent shape, the analyst tells investors in a research note. Apparel and footwear specifically should benefit from much easier compares and some pent-up demand, particularly toward the beginning of Q1, BTIG says.