Deckers Outdoor price target lowered to $103 from $122 at BofA

BofA lowered the firm’s price target on Deckers Outdoor (DECK) to $103 from $122 and keeps a Neutral rating on the shares. The firm thinks the company’s low-teens guidance for HOKA sales growth in the second half is “achievable,” but adds that fierce competition from both larger and smaller competitors could make share gains harder to come by next year. The firm’s base case includes HOKA sales slowing to 7% in FY27 from 14% in FY26, the analyst noted. In fiscal Q3, UGG “holds the key to ignite a potential rerating in the stock,” the analyst added.