BUZZ-Steven Madden gains after Needham upgrades to 'buy'

Reuters

Jan 08

** Shares of shoe and handbag maker Steven Madden SHOO.O up 2.6% at $45.17 premarket

** Needham upgrades stock to "buy" from "hold", raises PT to $50

** New PT represents ~14% upside to stock's last close

** Brokerage says changing fashion trends, with consumers moving away from athleisure and renewed interest in "dress up", "clothes to wear to work" themes, will lift co’s performance in 2026

** Adds SHOO will also benefit from accretion driven by recently acquired Kurt Geiger business

** 6 of 9 brokerages rate stock "buy" or higher, 3 "hold"; median PT is $45 - data compiled by LSEG

** Stock fell ~2% in 2025

(Reporting by Sanskriti Shekhar in Bengaluru )

((Sanskriti.Shekhar@thomsonreuters.com))

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