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Fly News Breaks for December 18, 2019
Dec 18, 2019 | 08:33 EDT
Deutsche Bank analyst Gabriella Carbone last night initiated coverage of Skechers with a Buy rating and $49 price target. The company's dominance in the global footwear market and the more than doubling of its sales over the last eight years have been underappreciated, Carbone tells investors in a research note. Further, the analyst expects Skechers' "multiple gap" between relative to peers to narrow given the company's earnings algorithm that is leading to low-double-digit to mid-teens earnings growth.
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