UBS analyst Jay Sole believes Skechers' Q3 results and Q4 guidance are likely to be in line. He believes the Street's focus will be on a potential Q3 sales shortfall, which would create a new set of worries causing a P/E contraction. However, he believes some concerns are already priced in and the risk/reward is more balanced. Sole maintained his Buy rating and lowered his price target to $35 from $37 on Skechers shares.
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