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UPDATE: Sterne Agee Reduces PT to $32 on Decker Outdoor on Risk

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Sterne Agee reiterated its Underperform rating on Decker Outdoor (NASDAQ: DECK) and reduced the price target from $38 to $32.

Sterne Agee commented, "We believe the UGG brand is at risk and the DECK stock has further downside. NPD data illuminate weakness and our channel checks indicate other pressures. Lowering our PT from $38 to $32 and lowering our '12/'13 EPS estimates from $3.97/$4.37 to $3.49/$3.62. Our new estimates may not have captured the entire downside risk, especially in 2013 if inventory levels remain excessive."

Decker Outdoor closed at $37.51 on Monday.

Latest Ratings for DECK

DateFirmActionFromTo
Oct 2017SusquehannaDowngradesNeutralNegative
Oct 2017Stifel NicolausMaintainsBuy
Oct 2017Pivotal ResearchInitiates Coverage OnBuy

View More Analyst Ratings for DECK
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings

 

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