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

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Reaction to the post-earnings slide in Deckers Outdoor (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
Jan 2015CitigroupMaintainsBuy
Jan 2015WunderlichMaintainsBuy
Jan 2015JefferiesMaintainsBuy

View More Analyst Ratings for DECK
View the Latest Analyst Ratings

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

 

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