2024-04-10 08:59:17 ET
Deckers Outdoor ( NYSE: DECK ) shares are under pressure Wednesday with a downgrade at Truist weighing on the stock. The bank has cut its rating to Hold from Buy and lowered its price target by 12% to $864 on expectations that sluggish DTC sales of its HOKA brand will overshadow gains for UGG. Accordingly, Truist analysts Joseph Civello and Scot Ciccarelli lowered their growth forecast for HOKA to 25% from 40% in respect to decelerating sales in mid-February and softer sales in March. ...
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Softening HOKA DTC trends to weigh on Deckers' outlook - analyst