Needham raised the firm’s price target on Deckers Outdoor (DECK) to $138 from $115 and keeps a Buy rating on the shares. 2025 was a year to forget for Deckers shareholders, but 2026 is off to a much better start, with a strong beat-and-raise in Q3, as DTC trends are accelerating at both brands, wholesale channel demand remaining strong, long-term distribution growth opportunities for Hoka, conservative Q4 guidance, and a fortress balance sheet that is now being used more aggressively, the analyst tells investors in a research note.
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