Skechers price target raised to $72 from $66 at Raymond James

Raymond James raised the firm’s price target on Skechers to $72 from $66 and keeps an Outperform rating on the shares. Skechers reported a solid beat on EPS, revenue, gross margin, and EBIT, even as SG&A grew more than expected, and strength was broad-based across channels and geographies, the analyst tells investors in a research note. The firm is impressed with Skechers’ positive momentum, which reflects high demand across brand and product, and says Skechers remains a robust growth story with improving margins.