Bernstein raised the firm’s price target on Deckers Outdoor (DECK) to $90 from $85 and keeps an Underperform rating on the shares. The firm cites a strong Q3 beat, with sales and gross margin above expectations, Hoka U.S. direct-to-consumer finally back to growth after three declining quarters, and International growth going strong. However, Bernstein points out that Q4 guide was soft with no Ugg growth and a big tariff margin headwind.
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