Skechers USA (SKX) PT Lowered to $90 at UBS

UBS analyst Jay Sole lowered the price target on Skechers USA (NYSE: SKX) to $90.00 (from $92.00) while maintaining a Buy rating.

The analyst commented, “We believe SKX’s strong 4Q result, ex-FX demonstrated the brand’s global reach and strength of its product offerings. Skechers is the world's 3rd largest footwear brand and an underappreciated growth stock, in our view."

Also, "We believe underlying demand for SKX’s products remains robust. We continue to think SKX's sales, EBIT margin, and earnings will grow much faster than the market expects and drive the stock price higher.”

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