Deckers Higher as Jefferies Note Calling Co. Takeover Target Getting Passed Around
Sharse of Deckers have turned positive over the last few minutes as traders are getting wind of a bullish note from Jefferies earlier.
The firm said, "DECK is a quality company with its key asset being the popular UGG brand. While we expect the stock to move higher on improving fundamentals, we believe the recent M&A in the space shows that both strategic and private equity investors now have a real appetite for deals. With DECK extremely undervalued (trading at just 8x earnings, 6x EBITDA and 0.8x P/S) and no love lost by the Street, we think it only makes sense that these players would take a look at the company as well."
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