Skechers price target raised to $79 from $76 at Wedbush

Wedbush analyst Tom Nikic raised the firm’s price target on Skechers to $79 from $76 and keeps an Outperform rating on the shares. Skechers posted “noisy” Q2 results, but there was more good than bad and Wedbush remains bullish on the name, the analyst tells investors in a research note. Skechers saw strength in U.S. wholesale, Europe DTC and gross margins, resulting in raised FY sales and EPS guidance, the firm says, adding that the company also announced a new $1B buyback program.