Deckers Outdoor price target raised to $226 from $218 at Needham

Needham analyst Tom Nikic raised the firm’s price target on Deckers Outdoor (DECK) to $226 from $218 and keeps a Buy rating on the shares. The firm has attended a product open house with the company’s management, including CEO Stefano Caroti, CFO Steve Fasching, UGG head Anne Spangenburg, and Hoka head Robin Green, and the management team is clearly confident in the outlook for the brands, with compelling product introductions for 2025 and brand-building initiatives to drive growth thereafter, the analyst tells investors in a research note. Needham adds that it remains bullish on Deckers and believes shares will continue to grind higher as the brands grow, driving higher EPS.