Skechers price target raised to $84 from $81 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Skechers (SKX) to $84 from $81 and keeps an Overweight rating on the shares. Skechers’ ability to grow sales 16% and maintain near-record gross margin in Q3 was “impressive,” and even more so when taken against channel mix shift back to wholesale along with China softness and headwinds, the analyst tells investors in a post-earnings note.