Skechers price target raised to $80 from $79 at Barclays

Barclays analyst Adrienne Yih raised the firm’s price target on Skechers (SKX) to $80 from $79 and keeps an Overweight rating on the shares. The company’s Q3 report was highlighted by an acceleration of growth in domestic wholesale and unexpected strength in Europe, the Middle East and Africa with sales up 30%, the analyst tells investors in a research note. However, the firm says China weakness, a gross margin miss, and heightened inventory levels “are all identifiable risks over the near-term with offsets.”