2023-06-14 10:22:33 ET
Raymond James started off coverage on Deckers Outdoor Corporation ( NYSE: DECK ) with an Outperform rating.
Analyst Rick Patel and team noted that Deckers Outdoor ( DECK ) has a long track record of strong execution and the HOKA brand has strong momentum with it only being in the early innings of long-term growth globally. Patel also thinks UGG remains an attractive brand and has long-term opportunities through international growth and category diversification. Of note, recent Google Trends data have also come in positive for the retailer.
In terms of profitability, there is room seen for Deckers' ( DECK ) to push operating margins even higher from their current level.
Raymond James assigned a price target of $565 on Deckers Outdoor ( DECK ). Shares pushed higher by 2.57% in morning trading on Wednesday to $503.31 and came within a few pennies of hitting a 52-week high earlier in the session.
More on Deckers Outoor:
- Deckers Outdoor: Growth Initiatives Appear To Be Paying Off
- Deckers Outdoor: Evaluating Growth Potential Of HOKA Brand And Stock Valuation
- Valuation metrics on Deckers Outoor
- Recent options trades on Deckers Outoor
- Seeking Alpha's Quant Rating for Deckers Outoor
For further details see:
Deckers Outdoor gains after Raymond James turns bullish