Williams Blair Turns Bullish On This Footwear Company

Williams Blair analyst Sam Poser upgraded Skechers USA Inc SKX to Buy from Hold with a price target of $51 (implying 17% upside) up from $49.
Given its "supply chain prowess," Skechers has been overcoming and will continue to overcome supply chain constraints "better than almost every company in the footwear space," Poser notes.
While his checks indicate that orders are late, Skechers continues delivering orders in "a more timely and more complete manner than other footwear companies," he adds.
Price Action: SKX shares are trading lower by 0.64% at $43.41 on the last check Tuesday.