Wells Fargo lowered the firm’s price target on Deckers Outdoor (DECK) to $100 from $120 and keeps an Equal Weight rating on the shares. The firm remains sidelined, the Bear Case seems to be playing out. While investors were braced for slowing top-line, a Hoka revenue miss was not expected. While the story is still “OK” – the decelerating revenue trajectory creates a tough setup, Wells says.
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