UPDATE: Sterne Agee Raises PT on Skechers USA to $13
Sterne Agee is out with its report today on Skechers (NYSE: SKX), raising its PT to $13 from $10.
In its report, Sterne Agee writes, "We are raising our PT because, following the recent trade shows, we believe that the inventory issues (up 48% at the end of 2Q) will likely be resolved by the end of the year."
Sterne Agee maintains Underperform on SKX.
Shares of SKX closed Thursday at $15.59.
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