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Susquehanna reviewed the performance of at least eight companies from the Footwear sector. Some have already reported earnings for the second quarter.
The brokerage rated three stocks with a Neutral rating and kept a positive rating in the remaining five shares.
Let's take a look:
- Started Deckers Outdoor Corporation DECK shares with a Neutral rating and $59 price target. The brokerage expects the move to open up UGG distribution and launching of Koolaburra by UGG in selected retailers to impact UGG brand in the long-term.
- Crocs, Inc. CROX shares were initiated with a Neutral rating and $9.50 as the price objective.
- Initiated Sketchers USA Inc SKX stock with a Neutral rating and a price tag of $27. The brokerage cited increased inventory and investments to keep them in the sidelines.
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Started Foot Locker, Inc. FL with a Positive rating and kept a price objective of $73 on the positive side and $51 on the pessimistic side. The brokerage sees never-ending strength in athletic and casual athletic footwear.
- Initiated coverage on Hibbett Sports, Inc. HIBB with a positive rating and price tag of $45. Its entry to digital age, though late, would result in revenue growth.
- Started Steve Madden, Ltd. SHOO with Positive rating and $42 price objective. The brokerage believes strong brands are key to the story.
- Initiated coverage on Under Armour, Inc. UA with a positive rating and $50 as the price tag. It was one of the top picks of the brokerage. Analysts think that the company's ‘brand first' focus would fuel revenue upside of 25 percent.
- Started coverage on Dick's Sporting Goods Inc DKS with a Positive rating and a price objective of $65.
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