Buckingham analyst Scott Krasik upgraded Skechers to Buy and raised its price target to $31 from $21 after viewing new products at the FFANY tradeshow. The analyst believes Skechers is one quarter away from a sales inflections driven by a new product cycle and notes reduced inventory after Q2 reduces the risk of another major negative earnings revision near-term. Further, Krasik said Chairman and CEO Robert Greenberg purchased $11M of stock this week, his first purchase in 15 years.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
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.
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here