In a report released yesterday, Joseph Civello from Truist Financial maintained a Buy rating on Deckers Outdoor (DECK – Research Report), with a price target of $130.00.
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Joseph Civello has given his Buy rating due to a combination of factors that suggest potential for Deckers Outdoor to outperform in the long term. Despite recent challenges, including a decline in HOKA’s sales and a lack of forward guidance from management, Civello believes that the current stock price reflects these concerns and that there is room for growth as the company navigates these issues. The strong performance of the UGG brand and better-than-expected gross margins in the fourth quarter indicate resilience and operational strength, which are positive indicators for future performance.
Additionally, while the company has taken a conservative approach by not providing full-year guidance, this caution is seen as a prudent response to macroeconomic uncertainties and potential tariff impacts. The company’s strategic decisions, such as price adjustments and inventory management, are expected to mitigate some of the anticipated challenges. Overall, Civello sees these factors as opportunities for Deckers Outdoor to exceed expectations, justifying the Buy rating despite the short-term pressures on the stock.
In another report released today, Barclays also maintained a Buy rating on the stock with a $128.00 price target.
DECK’s price has also changed moderately for the past six months – from $192.150 to $126.090, which is a -34.38% drop .