Wedbush Starts Skechers USA (SKX) at Underperform; Expect Difficult Fall Season

Wedbush initiates coverage on Skechers USA (NYSE: SKX) with an Underperform. PT $11.00.

Analyst, Corinna Freedman, said, "We believe the shares will trade lower over the near-term due to weaker than expected performance of the company’s new GOrun product at retail which could negatively impact wholesale orders for Fall, continued weakness in earnings due to Fx headwinds, operating expense deleverage, residual inventory overhang resulting from the continued fallout from the toning category and no upcoming positive catalysts on the horizon."

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 $13.98 yesterday.

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