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Fly News Breaks for July 19, 2019
SKX
Jul 19, 2019 | 06:16 EDT
UBS analyst Jay Sole raised his price target on Skechers to $50 and kept his Buy rating after its Q2 earnings beat and above-consensus outlook for Q3, saying the stock still offers upside following a 72% year-to-date run-up. The analyst notes that its continued strong sales will generate better SG&A leverage than expected and also believes that its investments made into emerging markets, e-commerce, and supply chain will "pay off in a bigger way" in FY20.
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