SKX - Skechers USA Unlikely To Raise Outlook Due To Eurozone Hurdles Says Analyst | Benzinga
Wedbush analyst Tom Nikic reiterated an Outperform rating on the shares of Skechers USA Inc (NYSE:SKX) with a price target of $68.
Nike Inc (NYSE:NKE) and Levi Strauss & Co (NYSE:LEVI) recently reported February-quarter results and both saw worsening EMEA trends sequentially, noted the analyst.
At over 20% of sales, Europe is a meaningful part of SKX’s business, and though the management has counted it in a conservative guidance, the macro challenges in Europe likely limit upside to the quarter and guidance, noted the analyst.
According to the analyst, strong demand ...