Deckers Outdoor price target raised to $880 from $850 at BTIG

BTIG raised the firm’s price target on Deckers Outdoor to $880 from $850 and keeps a Buy rating on the shares ahead of its Q4 results. The firm sees mostly in-line to slightly better than expected Q4 results, but expects the focus to shifts to FY24, where it sees conservative guidance by the management. The discretionary environment is gradually improving, though January reads will likely prove inconclusive on the state of the consumer given the tough and promotionally driven compares, the analyst tells investors in a research note.