Jefferies Reiterates Buy on Skullcandy

Jefferies is out with its report today on Skullcandy SKUL, reiterating Buy. In its report, Jefferies writes, "SKUL reported good 3Q earnings with better-than-expected top-line results across all regions and also raised its full-year outlook. The company is upbeat about its market positioning and has good momentum into holiday. We continue to like SKUL for its powerful brand and compelling growth opportunities. We reiterate our Buy rating and maintain our $22 PT." At the time of posting, shares of SKUL were trading pre-market at $16.50, up 7.91% from Thursday's close.