Evercore ISI analyst Michael Binetti lowered the firm’s price target on Deckers Outdoor (DECK) to $110 from $115 and keeps an In Line rating on the shares. While calling out “optimism around some aspects” of Deckers’ upcoming quarter, like UGG’s fall sell-in and Hoka’s direct-to-consumer growth, the firm says the company is expected to guide conservatively for the UGG brand due to several risks and sees “more complexities than just Hoka’s performance,” the analyst tells investors in a fiscal Q2 earnings preview.
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