Deckers Outdoor upgraded to Market Perform from Underperform at Bernstein

Bernstein analyst Aneesha Sherman upgraded Deckers Outdoor (DECK) to Market Perform from Underperform with a price target of $100, up from $90. Deckers is in the second year of decelerating sales and earnings growth as well as multiple compression, the analyst tells investors in a research note. The “worst of the reset seems to be behind us,” with consensus estimates and the stock’s multiple now more realistic, the analyst tells investors in a research note. Bernstein sees a balanced risk/reward at current share levels.