Credit Suisse Initiating Coverage On Deckers Outdoor

Credit Suisse is out with a research report on Deckers Outdoor

and is initiating coverage with a Outperform rating and a $110 price target on shares. In a note to clients, Credit Suisse writes, "We initiate coverage with an Outperform rating and a $110 target price. We are compelled by the revenue and earnings growth opportunities even while assuming likely persistence of higher marketing, SG&A, and capital investments. We view 2H 2011 and 2012 consensus estimates as conservative, suggesting an opportunity for multiple expansion pending validation of sustained growth potential into 2012:" Shares of DECK closed at $90.57 yesterday.