DECKERS OUTDOOR CORP

DECK
Delayed Nyse - 04:00 2022-11-30 pm EST
398.88 USD +2.62%

Wedbush Raises Deckers Outdoor to Outperform From Neutral, Price Target to $410 From $320; Stock Added to Best Ideas List

09/15/2022 | 09:49am
(MT Newswires) -- (Updated to add analyst commentary)

Wedbush raised its investment rating on Deckers Outdoor (DECK) to outperform from neutral and added the stock to its best ideas list.

The brokerage also raised its price target on the stock to $410 from $320, highlighting Deckers' guidance raise "[a]midst an extremely challenging retail environment." Deckers' "Hoka brand remains one of the most compelling, high-momentum growth stories in our space," Wedbush noted in a report to clients, and the company as a whole has demonstrated "top-line growth, strong margins, and a fortress balance sheet."

Deckers Outdoor has an average rating of outperform and price targets ranging from $280 to $530, according to analysts polled by Capital IQ.

The stock was up more than 4% in Thursday trade.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 344.32, Change: +9.97, Percent Change: +2.98

MT Newswires 2022
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