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Solid End To Year At Skechers Leads To PT Raise Wunderlich

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In a report published Thursday, Wunderlich Securities analyst Danielle McCoy reiterated a Buy rating on Skechers USA (NYSE: SKX), and raised the price target from $70.00 to $102.00.

In the report, Wunderlich Securities noted, "We are reiterating our Buy rating and raising our price target to $102 (from $70), and are materially increasing our 2015 and 2016 EPS estimates to $4.33 (from $3.48) and $5.45 (from $4.26), respectively. Skechers (SKX) ended the year on a solid note, registering 4Q EPS of $0.43, a penny above the Street, but what was most impressive was management's 1Q outlook significantly exceeding Street (and our) expectations."

The report continued, "Backlogs up +60% suggest the power of the Skechers brand continues to multiply as new product innovation supported by one of the best marketing strategies drives greater demand across the globe. As international penetration deepens, AURs rise and expenses are leveraged in 2H, we expect momentum to continue throughout 2015 and beyond."

Skechers USA closed on Wednesday at $62.04.

Latest Ratings for SKX

DateFirmActionFromTo
Oct 2019MaintainsEqual-Weight
Jul 2019MaintainsBuy
Jul 2019UpgradesNeutralOutperform

View More Analyst Ratings for SKX
View the Latest Analyst Ratings

Posted-In: Danielle McCoy Wunderlich SecuritiesAnalyst Color Price Target Analyst Ratings

 

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