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Argus upgrades Skechers to Buy, sees the stock as undervalued
The Fly

Argus upgrades Skechers to Buy, sees the stock as undervalued

Argus analyst John Staszak upgraded Skechers to Buy from Hold with a $50 price target. The company is benefiting from solid consumer spending amid higher wages and favorable direct-to-consumer trends, the analyst tells investors in a research note, also anticipating improvements at Skechers’ websites and retail stores to boost its earnings. Staszak adds that Skechers looks "undervalued" at 14.4-times expected 2023 earnings vs. the five-year average multiple of 16.4-times.

Published first on TheFly

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