Wunderlich Comments On Skechers In The Run-Up To Q3 Earnings

In a note released Monday morning, Wunderlich analyst Danielle McCoy commented on her outlook for Skechers USA Inc's (NYSE: SKX) third quarter.

McCoy began by reiterating a Buy rating and $70 price target while maintaining both fiscal 2015 and 2016 estimates. She commented, "We believe Skechers was one of the key winners this back-to-school season driven by high demand, innovative products and powerful marketing campaigns."

McCoy added the recent ~19 percent selloff was unwarranted, in her view, and provides an "appealing" entry point.

To support the notion that Skechers was a back-to-school winner, McCoy highlighted the far above average (4-8x) performance of the S-Sport, a Target exclusive.

Looking to the quarter's revenues and EPS, McCoy is predicting $635 million and $0.92, respectively.