Market Overview

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

Share:
Related DECK
Benzinga's Top Downgrades
12 Stocks Moving In Friday's Pre-Market Session
Is It Safe To Buy Deckers Outdoor Now? (Seeking Alpha)

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
Feb 2016Sterne Agee CRTDowngradesNeutralUnderperform
Feb 2016Bank of AmericaDowngradesBuyNeutral
Feb 2016B. RileyMaintainsNeutral

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!

Get Benzinga's Newsletters