Citi raised the firm’s price target on Deckers Outdoor (DECK) to $215 from $178 and keeps a Neutral rating on the shares. The firm expects a “big” fiscal Q3 earnings per share beat of $2.89 for Deckers Outdoor, above the consensus estimate of $2.53, driven by stronger Hoka and Ugg sales and stronger gross margin. Unlike previous quarters when there were concerns about Ugg and Hoka results that led to investor caution, “all signs point to a strong holiday season” for both brands, the analyst tells investors in a research note. Citi anticipates a very strong quarter from Deckers, but says positioning leaves it more cautious, suggesting a balanced risk/reward for the shares.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DECK:
- Deckers Outdoor price target raised to $235 from $230 at Truist
- Piper Sandler Upgrades Nike (NKE) due to Its History of Successful Comebacks
- Deckers Outdoor price target raised to $267 from $232 at UBS
- Deckers Outdoor target raised, added to ‘Tactical Outperform’ list at Evercore
- SPY ETF News, 1/7/2025