Skechers price target raised to $81 from $74 at Stifel

Stifel raised the firm’s price target on Skechers to $81 from $74 and keeps a Buy rating on the shares. Meetings with management have improved the firm’s confidence in product cycle momentum, marketplace stability, and the potential for revenue-led upside to estimates, says the analyst. Visibility is strong into fiscal Q3 and the firm believes prevailing FY24 guidance “prudently accounts for consumer uncertainty,” the analyst tells investors.