On Monday, Williams Trading exhibited confidence in shares of Skechers USA Inc . (NYSE: NYSE:SKX), as the firm adjusted its price target upward to $85.00 from the previous $82.00, while sustaining a Buy rating on the stock.
The optimism follows a series of investor meetings with the company's Chief Operating Officer and Chief Financial Officer, an evaluation of new products, and feedback from wholesale accounts at the recent FFANY trade show.
The analyst from Williams Trading highlighted the strength of current trends and the positive outlook for the company through 2025. Skechers' management team expressed satisfaction with sales performance over the Thanksgiving weekend, which was echoed by retailers who were upbeat about the brand's current trajectory.
Skechers' management hinted at a satisfactory performance during China's Singles' Day on November 11, describing sales as good but not outstanding. Despite this, the analyst believes that sales trends in China have shown sequential improvement from the -5.7% result in the third quarter of 2024, suggesting potential upside to the fiscal year 2024 guidance.
The report from Williams Trading comes after direct interactions with the Skechers management team and insights from the footwear industry event, providing a comprehensive view of the company's market position and growth prospects.
Skechers' management team's engagement with the investment community and their transparent communication regarding sales figures have contributed to the analyst's positive outlook on the stock.
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