Deckers Outdoor initiated with a Buy at Needham

Needham initiated coverage of Deckers Outdoor (DECK) with a Buy rating and $218 price target With an impressive multi-year track record of performance, two of the strongest brands in the industry in Hoka and UGG, a stellar management team, and a fortress balance sheet, Deckers is “one of the highest-quality companies in our coverage,” the analyst tells investors. Second half guidance “looks extremely conservative,” says the analyst, who sees the potential for numbers to continue moving meaningfully higher and for shares to “continue grinding higher.”