BofA analyst Christopher Nardone upgraded Skechers to Buy from Neutral with a price target of $87, up from $71. The wholesale environment is improving, broader footwear trends remain “solid,” and implied guidance for the second half could prove conservative, the analyst tells investors. The firm is increasing its Q2 and FY24 EPS estimates by 8% and 2%, respectively, to reflect stronger sales, the analyst added.
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