In a report released today, Christopher Nardone from Bank of America Securities reiterated a Hold rating on Deckers Outdoor (DECK – Research Report), with a price target of $154.00.
Christopher Nardone’s rating is based on a balanced risk/reward profile for Deckers Outdoor, with the stock trading at a 20x P/E ratio. Despite a 35% decline in shares year-to-date, the analyst maintains a Hold rating due to uncertain visibility on near-term earnings improvements. The potential for growth is tied to the success of HOKA’s product launches and the ability of the company to exceed low teens EPS growth expectations for fiscal 2026.
While the HOKA and UGG brands show strong health, Nardone remains cautious until there is more confidence in the impact of upcoming product launches. Positive factors include favorable weather conditions and new product introductions. However, the competitive landscape in the running segment and conservative growth guidance for fiscal 2026 contribute to the Hold rating. The price objective has been adjusted to $154, reflecting a revised valuation based on peer comparisons.