Piper Sandler upgraded Steven Madden (NASDAQ: SHOO) to Overweight from Neutral and lifted its price target to $40 from$25, sending shares up about 3% on Monday. The firm said Steven Madden’s fast inventory turnover had amplified tariff impacts more than peers, but the company was now positioned for a stronger recovery. It forecast EBIT margins of 6% this year, with potential to return to 11–12% over time. Piper Sandler also pointed to the Kurt Geiger brand, which it expected to become a mid-teens margin bu ...