Deutsche Bank resumed coverage of Skechers with a Buy rating and $82 price target as part of a broader research note on Activewear. The market underappreciates the strength of the Skechers brand and its revenue potential as the stock trades at just 14.8-times next-12-months’ expected earnings – a 25% discount to its medium-growth peers, the analyst tells investors in a research note. Skechers’ focus on value also provides a differentiated positioning for the company, largely isolating it from the highly competitive footwear market, the firm added.
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