UPDATE: Goldman Sachs Initiates Deckers at Neutral on Valuation
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
|Sep 2016||Guggenheim||Initiates Coverage on||Neutral|
|Aug 2016||Telsey Advisory Group||Upgrades||Market Perform||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.