04-05-2016, 01:33 AM
Bit of a curious selloff in Sketchers today (-6% at the moment), which does have its fans:
Meanwhile, Skechers USA Inc SKX remains Citi's top-rated footwear stock. Citi said with a growing global presence in athleisure, Skechers has the highest upside to its $44 target price and potential for multiple expansion over the next year. "Our recent meetings with management, industry experts, and retailer read-throughs indicate continued momentum in athleisure in 2016, bolstered by major athletic brands' marketing/launches around the Olympics, while incremental distribution and share gain opportunities could drive upside to SKX's US and international revenue growth in the near-term," Ghinst said. At time of writing, Skechers was down 0.68 percent on the day at $30.58
ECK), Skechers U.S.A., Inc. (NYSE:SKX) - Citi's Pair Trade In Footwear: Favors Deckers Over Wolverine World Wide, Skechers Remains Top Rated | Benzinga