Steven Madden price target raised to $32 from $30 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Steven Madden to $32 from $30 but keeps a Hold rating on the shares ahead of its Q4 results. The analyst cites the company’s lower long-term logistics and sourcing costs than previously remodeled as they have retrenched "much faster than expected". The firm adds however that wholesale order volumes have been "conservative" this Spring, posing a risk to the stock short term, as it cuts its FY23 revenue forecast to $2.03B from 2.09B.