Sterne Agee Upgrades Push K-Swiss (KSWS), Skechers (SKX) Shares Sharply Higher

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KSWS Hot Sheet

Rating Summary:
0 Buy, 1 Hold, 0 Sell

Rating Trend:

Up

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23

Shares of K-Swiss (Nasdaq: KSWS) and Skechers (NYSE: SKX) are up 6 and 4 percent, respectively, Monday afternoon following earlier upgrades from Sterne Agee's Sam Poser. The analyst now rates both stocks a Neutral, up from Underperform previously.

Poser believes Skechers will see a "material improvement" during the second half of this year "as new product pleasantly surprises retailers." The analyst did warn that results over the near term will look concerning.

While the Sterne Agee analyst isn't expecting a raid recovery for K-Swiss, he noted cost controls and product improvements which may be able to "stem the bleeding" in terms of cash burn.

Notably, Poser also upgraded shares of Kenneth Cole (NYSE: KCP) from Neutral to Buy this morning. Kenneth Cole shares are up 2.2 percent to $13 even at last check.

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