Skechers price target raised by $10 at Stifel, here’s why

Stifel raised the firm’s price target on Skechers to $72 from $62 and keeps a Buy rating on the shares. For Sports and Lifestyle Brand owners, the “still sound” U.S. consumer balance sheets and wage growth that can outpace inflation support growth and margin expansion opportunities for companies with brand-specific drivers, the analyst tells investors in a 2024 sector preview note.