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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
Apr 2015Guggenheim SecuritiesInitiates Coverage onNeutral
Apr 2015Bank of AmericaInitiates Coverage onBuy
Mar 2015Standpoint ResearchUpgradesHoldBuy

View More Analyst Ratings for DECK
View the Latest Analyst Ratings

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

 

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