Deckers Outdoor price target raised to $665 from $515 at Citi

Citi analyst Paul Lejuez raised the firm’s price target on Deckers Outdoor to $665 from $515 and keeps a Buy rating on the shares. The analyst expects a solid sales and earnings beat when Deckers reports fiscal Q1 on July 27. The firm expects a beat from better sales in Hoka direct-to-consumer and slightly stronger gross margin. The Q1 earnings are likely to further crystalize the global growth opportunity still ahead for Hoka, which will be a net positive, the analyst tells investors in a research note.