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Fly News Breaks for October 21, 2016
SKX
Oct 21, 2016 | 08:11 EDT
Cowen analyst John Kernan noted Skechers is trading lower following its Q3 results and he believes shares are approaching oversold levels. Kernan said management provided confusing guidance, but they are confident SG&A should be manageable as the business slows and inventory appears well managed. Kernan said a valuation in the low $20 range should provide support and he reiterated his Market Perform rating on Skechers shares.
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