Skechers price target raised to $74 from $70 at TD Cowen

TD Cowen analyst John Kernan raised the firm’s price target on Skechers to $74 from $70 and keeps an Outperform rating on the shares. The firm met with management and came away confident in the company’s improving position in the marketplace and think execution on EBIT margin initiatives and FCF consistency could produce ROIC improvement and valuation multiple expansion.