Piper Sandler upgraded Deckers Outdoor (DECK) to Neutral from Underweight with a price target of $100, up from $95. After lagging the market, Deckers shares are “not expensive,” the analyst tells investors in a research note. Piper sees a more balanced risk/reward at current share levels. It expects the company post a fiscal Q4 beat and says investor sentiment is “skewing more negative” into the report. Piper continues to prefer shares of On Holding (ONON) to Deckers Outdoor.
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