Skechers price target raised to $48 from $31 at Cowen

Cowen analyst John Kernan raised the firm’s price target on Skechers to $48 from $31 and keeps a Market Perform rating on the shares. The analyst said the digital data he tracks has been robust and the company’s value proposition and innovation appears to be resonating. China, domestic wholesale and timing of Free Cash Flow conversion are points of uncertainty and keeps him on the sidelines.