Market Overview

UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on Deckers Outdoor Corp. on Signs of Stabilization

Share:
Related DECK
Is Deckers Still A Buy? Wunderlich Thinks So
Williams-Sonoma, Salesforce.com, Deckers Outdoor Lead Wednesday's After-Hours Movers

In a report published Friday, Goldman Sachs reiterated its Neutral rating on Deckers Outdoor Corp. (NASDAQ: DECK), and raised its price target from $33.00 to $42.00.

Goldman Sachs noted, “DECK 4Q12 EPS of $2.77 exceeded GS/consensus/guidance of $2.50/$2.60/$2.74. Sales, however, fell short again as weakness in wholesale was offset by a better than expected SSS. 4Q upside was driven by SG&A, marking a second consecutive quarter of strong expense management. FY13 guidance of $3.62 is much better than feared, albeit back half weighted. We walk away more confident in the stability of the UGG brand and encouraged by management's comments. However, we stay Neutral-rated given fair valuation and limited visibility into 2013 EPS.”

Deckers Outdoor Corp. closed on Thursday at $40.41.

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 Price Target Analyst Ratings

 

Related Articles (DECK)

Around the Web, We're Loving...

Get Benzinga's Newsletters