Skechers price target lowered to $77 from $80 at Barclays

Barclays analyst Adrienne Yih lowered the firm’s price target on Skechers (SKX) to $77 from $80 and keeps an Overweight rating on the shares post the Q4 report. The firm says Skechers saw outsized impacts from non-fundamental items in Q4 from currency headwinds and lower tax rates, which distorted the comparability of results versus estimates. Looking through, pressure in China weighed on quarter and outlook, the analyst tells investors in a research note.