Stifel upgraded Deckers Outdoor (DECK) to Buy from Hold with an unchanged price target of $117 after hosting management meetings with investors. Deckers’ “re-rated multiple” presents an attractive valuation, the analyst tells investors in a research note. The firm says management expressed confidence in the pathway for continued growth in the Hoka brand, favorable supply/demand dynamics for Ugg, and favorable demand for strong brands despite macro volatility. Stifel now has greater confidence in its estimates into fiscal 2027.
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