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Fly News Breaks for December 13, 2019
Dec 13, 2019 | 07:38 EDT
Argus analyst John Staszak upgraded Skechers to Buy from Hold with a $50 price target, saying the company is benefiting from the "robust" global demand that has been sustained in October and November amid rising wholesale orders and "favorable" DTC trends. At 16.5-times his expected FY20 earnings, the analyst contends that Skechers shares are "undervalued" given the company's potential for margin improvement and continued revenue growth.
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