Wunderlich Securities Has Positive Outlook On Skechers USA Ahead Of 3QFY14 Earnings

In a report published Monday, Wunderlich Securities analyst Danielle McCoy reiterated a Buy rating and $70.00 price target on Skechers USA Inc (NYSE: SKX).

In the report, Wunderlich Securities noted, “We are reiterating our Buy rating, $70 price target, and maintaining our FY15 and FY16 EPS estimates with Skechers (SKX) scheduled to report 3QFY14 earnings results on Wednesday, October 22nd after the close. Given our channels checks, we believe Skechers was one of the key winners this back-to-school season driven by high demand, innovative products and powerful marketing campaigns. As Skechers continues to focus on innovating its overall product assortment and expanding distribution on a global basis, we believe it will continue to capitalize on the mega comfort trend and drive double-digit top- and bottom-line upside. We view the recent sell-off of ~19% as unwarranted and view this as an appealing entry point into the name and/or a point to build upon an exiting position.”

Skechers USA Inc closed on Friday at $52.01.