Morgan Stanley Upgrades Skechers USA (SKX) to Overweight

Morgan Stanley analyst Alex Straton upgraded Skechers USA (NYSE: SKX) from Equalweight to Overweight with a price target of $80.00.

The analyst comments "We upgrade SKX to Overweight with an $80 price target (~26% upside) on 1) positive indicators in our proprietary work (2024 global sportswear survey & channel checks), 2) continued confidence in the potential for positive EPS revisions over NTM, & 3) room for valuation re-rating as the business’ higher profitability profile & improved marketplace positioning is more appreciated."

For an analyst ratings summary and ratings history on Skechers USA click here. For more ratings news on Skechers USA click here.

Shares of Skechers USA closed at $64.21 yesterday.

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