Piper Sandler analyst Abbie Zvejnieks downgraded Deckers Outdoor (DECK) to Neutral from Overweight with a price target of $650, up from $620. The firm says its Ove weight thesis has largely played out and the stock’s valuation now looks fair. Piper’s Our thesis, which included continued Hoka momentum, near-term Ugg tailwinds, and an attractive valuation has largely played out, the analyst tells investors in a research note. Hoka has quickly reached the number one brand within run specialty, and without a complete lifestyle offering, market share gains are more limited from here, contends the firm. Piper’s top pick in this space is On Holding (ONON).
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Read More on DECK:
- Deckers Outdoor downgraded to Neutral from Overweight at Piper Sandler
- Deckers Outdoor director sells $2.35M in common stock
- Deckers Outdoor price target raised to $650 from $640 at BTIG
- Deckers Outdoor rises 19.1%
- Deckers Outdoor rises 15.2%
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