Skechers price target lowered to $90 at UBS, sees solid opp. to buy growth stock

UBS lowered the firm’s price target on Skechers (SKX) to $90 from $92 and keeps a Buy rating on the shares. Skechers’ strong Q4 results, excluding foreign exchange, demonstrated the brand’s global reach and strength of its product offerings, the analyst tells investors in a research note. The firm continues to think Skechers’ sales, EBIT margin, and earnings will grow much faster than the market expects and drive the stock price higher and sees a solid opportunity to buy a growth stock.