Putting Pep In Reebok's Step

Reebok has become a huge brand name with fans worldwide. But not on Wall Street, where it was once a star. Its luster has faded--along with its shares, now at 27, down from 40 in early 1995. Part of the reason: several quarters of disappointing earnings, caused by a miscalculated focus on low-priced shoes at the expense of its above-$85 footwear. So why are some smart-money investors buying into Reebok International (RBK)?

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