Skechers, a company that makes shoes, reported that they made 91 cents for each shoe they sold in the last three months. This is less than what most people expected (94 cents), so some people were disappointed. However, the company also sold a lot of shoes in Europe and the US, and they think that their shoes are better quality than before, so some people are still happy with the company. One person who follows the company, Tom Nikic, thinks that the company will do well in the future, so he raised his price target for the company's stock to $79. A price target is like a guess of how much the stock will be worth in the future. He also thinks the company will make more money next year and the year after than he thought before. Read from source...

- The headline is misleading, implying that an analyst has raised the price target of Skechers despite the company missing earnings estimates.
- The analyst has not raised the price target, but has reiterated an Outperform rating and raised the price forecast to $79 from $76.
- The analyst has cited strength in U.S. wholesale, European DTC, and gross margins as reasons for the raise, but also acknowledged a slowdown in U.S. DTC and China.
- The analyst has raised FY24/25 EPS forecasts, but has also noted that the quarter would have been more robust if not for a pushout of revenue to the third quarter.
- The analyst has expressed caution about U.S. DTC and China, while seeing favorable risk/reward in the stock.
- The article does not provide any information about the analyst's track record, the methodology behind the price forecast, or the factors that could affect the company's performance in the future.

AI's article rating: 1/5

Possible answer:

It seems that the user is asking for a detailed analysis of Skechers' Q2 earnings and the factors that contributed to the earnings miss, as well as the reasons for the analyst's price target increase and EPS forecast raise. A possible response is:

Dear user,

Thank you for your question about Skechers' Q2 earnings and the analyst's outlook. Skechers reported quarterly earnings of 91 cents per share, which missed the analyst consensus estimate of 94 cents by 3.19%. The company reported quarterly sales of $2.16 billion. According to the analyst, the company saw strength in U.S. wholesale, Europe DTC, and gross margins, resulting in raised FY sales/EPS guidance. However, U.S. DTC and China slowed meaningfully, and the quarter would have been more robust if not for a pushout of revenue to the third quarter. The analyst also raised FY24/25 EPS forecasts to $4.16/ $4.92 from $4.06/$4.75, citing positive trends in the domestic wholesale channel and the European direct-to-consumer business. The analyst reiterated an Outperform rating on the stock and increased the price target to $79 from $76, implying a 21.1% upside from the current price.

In conclusion, Skechers' Q2 earnings were affected by a combination of factors, including a tough compare with the prior year, a slowdown in U.S. DTC and China, and a revenue pushout to the third quarter. However, the company still delivered strong growth in key channels and regions, and the analyst remains optimistic about its long-term prospects. The analyst's price target increase and EPS forecast raise reflect the confidence in the company's ability to achieve its financial goals and deliver shareholder value.