Skechers price target raised to $48 from $40 at Raymond James

Raymond James analyst Rick Patel raised the firm’s price target on Skechers to $48 from $40 and keeps an Outperform rating on the shares after hosting an investor meeting with the several members of the company’s management. Management struck a positive tone, and Patel walked away encouraged that the holiday season is off to a good start, the analyst tells investors in a research note. He continues to believe margins are positioned for strong expansion in 2023.