Analysts from B. Riley FBR and Telsey Advisory Group issued a “Buy” and “Outperform rating on Steven Madden, Ltd.(NASDAQ:SHOO). Analysts at Telsey Advisory Group enhanced their target price from $44.00 to $51.00. Analysts are bullish on Steven Madden, Ltd.(NASDAQ:SHOO) which has a consensus target price of $50. Earlier, analysts from Buckingham Research upgraded the stock to Buy as compared to the Neutral rating and enhanced the price target to $48.

The group reported that their fourth quarter sales enhanced 8.3% to $364.4 million while Net sales for the wholesale division enhanced 10.6% to $278.2M. The Retail comparable store sales lost 5.1%.

The group expects Diluted EPS for fiscal year 2017 to be at the high end of their earlier offered guidance range. The group’s solid wholesale business was offset by weaker conditions but this was as expected. Their retail segment was driven by weakness in the boot category.

The group is positioning themselves on growth track and accordingly acquired Schwartz & Benjamin and the formation of new joint ventures in China and Taiwan. Going forward, the group expects its strong brands and their rising diversified business model would position them to continue to drive top- and bottom-line gains for years.

The group has over 8% market in the U.S. women’s fashion footwear market. Over 82% of the group’s business is done in the wholesale channel. The group built a diversified portfolio of brands and private labels to sell into all tiers of distribution, from luxury down to mass. Steve Madden women’s wholesale footwear business in the U.S. surged 21% in the last 12 months

International business accounts 10% while the group has presence in over 80 countries. The group has presence in Canada and Mexico and has joint ventures in South Africa, much of Europe and most recently China and Taiwan.

On the other side, the group is also focusing on men’s marketing campaigns this year. They made an initial collaboration on the men’s side which launched in August. They launched a capsule collection of men’s footwear and bags cobranded with GQ, and got good response. The group also acquired Schwartz & Benjamin to expand the business.