Deckers Outdoor price target raised to $230 from $205 at Truist

Truist raised the firm’s price target on Deckers Outdoor (DECK) to $230 from $205 and keeps a Buy rating on the shares. The firm’s review of wholesale data indicates that HOKA remains a leading brand at both Dick’s Sporting Goods (DKS) and Fleet Feet, and given the strong sellout trends, Deckers is very effectively clearing the wholesale channel to make way for key upgrades to their Bondi and Clifton franchises while also expanding its brand awareness, the analyst tells investors in a research note.