Williams Trading analyst Sam Poser maintains $Skechers USA (SKX.US)$ with a buy rating, and adjusts the target price from $80 to $82.
According to TipRanks data, the analyst has a success rate of 53.1% and a total average return of 16.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Skechers USA (SKX.US)$'s main analysts recently are as follows:
The firm has modified its expectations for Skechers, noting the management's decision to increase the lower end of its future sales outlook, acknowledging the brand's sustained strength across various channels. This amendment has led to an adjustment in the firm's earnings projections, increasing the forecast for the upcoming fiscal year while slightly revising the following year's estimate downwards.
Skechers' third-quarter performance exceeded expectations and prompted an increase in forecasts, influenced by robust wholesale results and positive trends in Europe, the Middle East, and Africa. This was somewhat balanced by a lower gross margin due to challenges in China and increased promotional activity. These issues are viewed as temporary.
Skechers' recent performance, characterized by a 16% sales growth and the sustenance of near-record gross margins during Q3, was notable, especially considering the shift back to wholesale channels coupled with challenges in China and other headwinds.
Note:
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