Skechers price target raised to $59 from $58 at Wedbush

Wedbush analyst Tom Nikic raised the firm’s price target on Skechers to $59 from $58 and keeps an Outperform rating on the shares. Skechers reported strong Q2 results, and FY EPS guidance was raised, implying better margins, though this implies a cut to 2H earnings, the analyst tells investors in a research note. The brand continues to show strong momentum, and the one sore spot of U.S. wholesale may have just passed its trough quarter, Wedbush contends.