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Skechers downgraded to Equal Weight from Overweight at Morgan Stanley
The Fly

Skechers downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Alex Straton downgraded Skechers to Equal Weight from Overweight with a price target of $46, down from $54. Straton views 2023 as a tale of two halves, with inventory, recession fears, and EPS risk driving stocks to a bottom sometime in Q1, the analyst tells investors in a research note. The stock is sitting at the upper end of its historical valuation range, and a re-rating may be unlikely while potentially below-expectations FY23 EPS guidance is digested and management re-builds trust via EBIT-flow-through consistency.

Published first on TheFly

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