Analyst Bumps Up Skechers Price Forecast, Cites Strong Wholesale and European Growth Despite Earnings Miss

Wedbush analyst Tom Nikic reiterated an Outperform rating on Skechers U.S.A., Inc. SKX, raising the price forecast to $79 from$76.  Skechers reported quarterly earnings of 91 cents per share, which missed the analyst consensus estimate of 94 cents by 3.19%. The company reported quarterly sales of $2.16 billion.According to the analyst, the company saw strength in U.S. wholesale, Europe DTC, and gross margins, resulting in raised FY sales/EPS guidance.In addition, the quarter would have been more robust if ...