Credit Suisse Reiterates Underperform on Deckers Outdoor on Remaining Concerns About Return on Retail Investments

In a report published Thursday, Credit Suisse analyst Christian Buss reiterated an Underperform rating and $47.00 price target on

. In the report, Credit Suisse noted, “We remain concerned about Deckers' return on recent retail investments and reiterate our view that 2H earnings could fall short of expectations. While 3Q remains a sell-in quarter, and risk is moderate heading into the 3Q report, recent retailer commentary and macroeconomic factors suggest the company is not well positioned for guided-to reacceleration of revenue growth and earnings power in 4Q. Guidance is for 4Q revenue growth of 14.5%, and EPS growth of 38% versus 2.5% revenue growth and earnings declines of 41% Y/Y in 3Q.” Deckers Outdoor Corp. closed on Wednesday at $62.15.