Market Overview

UPDATE: Sterne Agee Reduces PT to $32 on Decker Outdoor on Risk

Related DECK
Fast Money Picks For December 16: Intersil, Toyota, Deckers Outdoor, Coca-Cola
Wunderlich: Specialty, Footwear And Apparel 'Looking Up, But Not For All'
Making Money With Charles Payne: 11/14/14 (Fox Business)

Sterne Agee reiterated its Underperform rating on Decker Outdoor (NASDAQ: DECK) and reduced the price target from $38 to $32.

Sterne Agee commented, "We believe the UGG brand is at risk and the DECK stock has further downside. NPD data illuminate weakness and our channel checks indicate other pressures. Lowering our PT from $38 to $32 and lowering our '12/'13 EPS estimates from $3.97/$4.37 to $3.49/$3.62. Our new estimates may not have captured the entire downside risk, especially in 2013 if inventory levels remain excessive."

Decker Outdoor closed at $37.51 on Monday.

Latest Ratings for DECK

DateFirmActionFromTo
Oct 2014Morgan StanleyInitiates Coverage onOverweight
Oct 2014Piper JaffrayDowngradesOutweightNeutral
Oct 2014WunderlichInitiates Coverage onBuy

View More Analyst Ratings for DECK
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (DECK)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional