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Fly News Breaks for December 4, 2019
BURL, UAA, NKE, LULU, SKX
Dec 4, 2019 | 08:49 EDT
UBS analyst Jay Sole said he believes Skechers (SKX) carried its strong U.S. momentum into Thanksgiving and likely through Cyber Monday. He also thinks the company continues to perform well in China and that Singles Day in China was strong. He believes that as Skechers continues to deliver strong organic sales growth and steady margin expansion, its stock will get a P/E multiple more in-line with the "only 4 other companies" he covers that he sees achieving double-digit EPS growth over the next 5-year period - namely Lululemon (LULU), Nike (NKE), Under Armour (UAA) and Burlington Stores (BURL). Sole keeps a Buy rating and $48 price target on Skechers shares.
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