Steven Madden price target raised to $45 from $43 at Citi

Citi analyst Paul Lejuez raised the firm’s price target on Steven Madden (SHOO) to $45 from $43 and keeps a Neutral rating on the shares. The company’s Q3 earnings beat consensus slightly, driven by stronger apparel and accessories sales while wholesale footwear was weaker, the analyst tells investors in a research note. The firm believes the stock’s risk/reward is balanced at current levels.