Market Overview

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

Share:
Related DECK
Fast Money Picks For June 17
Wunderlich's Social Media Survey: Crocs Revamped Look, Taylor Swift Drives Excitement For Keds, And More
The Best Way To Judge Past Performance: Part 2 (Seeking Alpha)

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
May 2015JefferiesMaintainsBuy
May 2015SusquehannaMaintainsPositive
Apr 2015Guggenheim SecuritiesInitiates Coverage onNeutral

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