Evercore ISI analyst Jesalyn Wong maintained a Buy rating on Skechers USA (SKX – Research Report) today and set a price target of $60.00.
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Jesalyn Wong’s rating is based on several factors surrounding Skechers USA’s recent acquisition announcement. The company agreed to be acquired by 3G Capital at a significant premium, indicating strong confidence in Skechers’ future potential. The acquisition price reflects a higher-than-average valuation multiple, suggesting that 3G Capital sees long-term profitability in the company, particularly if tariff issues are resolved favorably.
Additionally, the acquisition sets a valuation benchmark for the Softlines industry, underscoring Skechers’ position as a durable franchise. By taking the company private, Skechers will have the opportunity to focus on long-term strategic decisions without the pressure of public markets, which is seen as beneficial for its future growth and stability. This combination of factors supports Wong’s Buy rating, as it highlights both immediate financial benefits and long-term strategic advantages.
In another report released on April 28, Argus Research also maintained a Buy rating on the stock with a $55.00 price target.