NEW YORK Nov 28 U.S. footwear maker Steven
Madden's (SHOO.O) shares are cheaper than those of some of its
rivals and could rise further, Barron's wrote in its Nov. 29
Steven Madden's stock, which currently trades at about $45,
has risen 260 percent over the past five years, and more than
63 percent this year.
Despite the "impressive" run-up, the stock trades at a
lower multiple of earnings than some rivals such as Kenneth
Cole KCP.N, Deckers Outdoor (DECK.O) and Crocs (CROX.O), and
could rise over the next 12 months to trade at $50, the
financial weekly said.
"Years after its founder's missteps landed him in prison,
the company is taking the right steps to stay ahead of rivals,"
Barron's said on Sunday, citing the company's strengths
including its ability to respond to changing consumer tastes
faster than many peers.
(Reporting by Dhanya Skariachan; Editing by Marguerita Choy)