As previously reported, Morgan Stanley downgraded Skechers to Equal Weight from Overweight and lowered its price target to $25 from $41. Analyst Jay Sole believes consumers shift towards pure fashion styles and away from athletic footwear is causing Skechers to adjust assortment, resulting in slower sales growth. Sole sees no positive fashion catalysts until 1H 2017 and expects consensus estimates to fall.
UBS raised the firm's price target on Skechers to $88 from $81 and keeps a Buy rating on the shares. UBS expects strong EPS growth and upward earnings revisions to drive the stock higher over the near-term.
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