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UPDATE: Goldman Sachs Initiates Deckers at Neutral on Valuation

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Goldman Sachs initiated coverage on Deckers (NASDAQ: DECK) with a Neutral rating and a $32 price target.

Goldman Sachs noted, "Notwithstanding the intense headwinds facing the brand, we still believe in UGG's ability to survive this storm. There are many structural elements still intact including retailer support, disciplined distribution, international runway, and a strong leadership team. The near-term challenge, however, lies in accurately timing the bottom of a very steep cyclical earnings decline."

Deckers closed at $35.25 on Monday.

Latest Ratings for DECK

DateFirmActionFromTo
May 2016BB&T CapitalDowngradesHoldUnderweight
May 2016NomuraMaintainsNeutral
Mar 2016CitigroupMaintainsBuy

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Posted-In: Goldman SachsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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