Market Overview

UPDATE: Wedbush Securities Raises PT to $40 on Deckers Outdoor on Black Friday Momentum

Share:
Related DECK
15 Biggest Mid-Day Gainers For Wednesday
Benzinga's Top Upgrades, Downgrades For January 18, 2017

Wedbush Securities reiterated its Outperform rating on Deckers Outdoor (NASDAQ: DECK) and increased its price target from $38 to $40.

Wedbush Securities commented, "Based on our observations, cooler weather spurred sales of Ugg boots in the department store channel. We found Ugg doing a brisk business on Friday with further improvement throughout the weekend as the weather cooled in the Northeast, according to our checks. There were no Black Friday promos that specifically included Ugg boots nor did we find any markdowns in the channel. We believe Ugg sales at Nordstrom were stronger than Bloomingdales and Saks and as noted in Gabriella Santaniello's Retail Detail today, we found that Nordstrom reinstated the 4-pair purchase limit. We believe this may be due to concerns that replenishment orders are likely to be constrained by leaner inventory vs. LY."

Deckers Outdoor closed at $33.59 on Friday.

Latest Ratings for DECK

DateFirmActionFromTo
Jan 2017BuckinghamUpgradesNeutralBuy
Nov 2016Stifel NicolausUpgradesHoldBuy
Oct 2016SusquehannaDowngradesNeutralNegative

View More Analyst Ratings for DECK
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (DECK)

View Comments and Join the Discussion!