Steven Madden initiated with a Hold at Needham

Needham analyst Tom Nikic initiated coverage of Steven Madden (SHOO) with a Hold rating and no price target While “a well-run business with some clear pockets of strength,” tough macro conditions keep the firm sidelined for the moment, the analyst tells investors. The firm is most notably concerned about the risk of potential tariffs on Chinese imports during President-Elect Trump’s second term, given that Steven Madden has the highest exposure of China-to-U.S. imports in its coverage, the analyst noted.