Deckers Shares Rally Following Bullish Note, Raised Price Target at Jefferies
Shares of Deckers Outdoor (NASDAQ: DECK) are up nearly 6 percent Monday morning following some very positive comments from Jefferies' Randal Konik earlier.
Following issues related to a warmer-than-usual holiday period, the cold snap during January likely provided managers a chance to put UGG brand footwear on sale, Konik said. He now has more conviction than ever before in Deckers.
Konik boosted his price target on shares of Deckers from $50 to $60. The analyst maintains a Buy rating on the stock.
With Deckers shares last trading around $42.47, Konik's new price target implies potential upside of more than 41 percent.
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