Steven Madden price target lowered to $35 from $38 at Citi

Citi lowered the firm’s price target on Steven Madden (SHOO) to $35 from $38 and keeps a Neutral rating on the shares following the Q4 report. The firm says stronger sales offset by weaker gross margin. Citi views the Kurt Geiger acquisition as a win for Steven Madden, but says uncertainty around the core business remains high. The ultimate impact of tariffs is still unknown and could cause disruptions in the company’s speed-to-market model, the analyst tells investors in a research note.