Skechers (SKS) To Gain From International Market

Skechers USA SKX has been added to Wunderlich Securities’ Best Ideas list, as analysts reiterated the Outperform rating on the company. The price target has been raised from $49 to $50. The target has been derived by applying a 14x multiple on the 2011 estimate of $3.58. Skechers USA is ideally poised to gain from opportunities in the international market, and the company’s European exposure has also turned out to be much less than analysts expected. The existing product line will also be strengthened by newer and improved product versions that Skechers plans to bring in. Wunderlich has raised the Q3 EPS estimate to 97 cents a share.