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Skechers USA (NYSE:SKX) is fairly priced despite strong growth avenues to be found in targeting consumers focused on comfort and convenience, according to Piper Sandler.
Equity analyst Abbie Zvejnieks explained that “favorable secular tailwinds” are balanced by an uncertain trajectory for consumer spending. Further, the upside is limited given the stock’s surge in the final two months of 2022.
She assigned a $42 price target to the stock alongside a Neutral rating. Shares of the California-based footwear manufacturer rose 1.3% on Thursday.
Dig into the company’s valuation metrics.
