Williams Trading Downgrades Steven Madden to Hold, Announces $44 Price Target
Portfolio Pulse from Benzinga Newsdesk
Williams Trading analyst Sam Poser downgraded Steven Madden (NASDAQ:SHOO) from Buy to Hold and set a $44 price target.
February 21, 2024 | 10:57 am
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Steven Madden was downgraded from Buy to Hold by Williams Trading, with a new price target of $44.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic outlook on the company's future performance. The setting of a specific price target provides a benchmark for investors, potentially influencing trading behavior. Given the downgrade from Buy to Hold, investors may interpret this as a signal to reassess their positions, possibly leading to a decrease in stock price in the short term.
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