Wedbush Securities reiterates its outperform rating on Sketchers SKX and a $54 price target.
Wedbush says Sketchers' strong product cycle, coupled with international expansion and an inexpensive 10x forward multiple reaffirms its conviction and outperform rating. Wedbush derives its $54 price target by applying a 13x multiple on our 2011 estimate of $4.20, conservatively below SKX's historical multiple range of ~15x.
Wedbush says risks to attainment of its price target include excessive advertising, threat of new entrants
entering the marketplace, pricing pressures as others attempt to gain market share, and excessive inventory builds.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in