Skechers sues Reebok for allegedly infringing on GO WALK footwear line SKECHERS USA (SKX) announced that it filed a lawsuit against Reebok International Limited (ADDYY) for selling footwear that infringes on the popular SKECHERS GO WALK product line. The suit, filed in the United States District Court for the Central District of California, seeks compensatory and punitive damages as well as injunctive relief for infringing on SKECHERSí patent and trade dress rights and for unfair competition. The suit states that Reebok is selling the infringing products under the name Reebok Walk Ahead RS.
Skechers price target raised to $160 from $142 at Citi Citi analyst Corinna Van der Ghinst raised her price target for Skechers to $160 citing "increased conviction in the Bull case scenario" following the company's better than expected Q2 results. The analyst reiterates a Buy rating on the stock.