Needham analyst Tom Nikic lowered the firm’s price target on Deckers Outdoor (DECK) to $113 from $128 but keeps a Buy rating on the shares. The stock is poised for another negative investor response to earnings, with shares down despite a Q2 earnings beat, the analyst tells investors in a research note. The issues largely stem from the UGG brand, which saw a major deterioration of DTC trends, overshadowing positivity around Hoka, which has seen accelerating DTC trends and solid wholesale order books, the firm added.
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- Buy Recommendation for Deckers Outdoor: Strong Q2 Performance and Growth Potential Amid Conservative Guidance
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