Skechers price target raised to $54 from $43 at Deutsche Bank

Deutsche Bank analyst Gabriella Carbone raised the firm’s price target on Skechers to $54 from $43 and keeps a Buy rating on the shares. The analyst increased estimates ahead of the company’s Q4 results. While lingering logistical challenges will impact the quarter, Skechers’ setup in fiscal 2023 is favorable as "meaningful margin tailwinds" are likely to combine with strong sales, driving earnings upside, the firm tells investors in a research note. In addition, the analyst thinks the company would be more resilient in an economic downturn relative to peers given its value proposition.