UPDATE: Jefferies & Company Resumes Coverage on Deckers Outdoor with Buy Rating, $50 PT

In a report published Friday, Jefferies & Company resumed coverage on Deckers Outdoor Corp.

with a Buy rating and $50.00 price target. Jefferies noted, “We see significant upside in coming quarters due to improving performance of the UGG brand which we think is far from dead. Further, we expect growth from the retail store rollout, int'l expansion, brand extensions, and the smaller brands. Meanwhile, margin tailwinds are on the way. With valuation attractive, we would aggressively buy DECK at current levels. Resuming coverage with a Buy rating and $50 PT.” Deckers Outdoor Corp. closed on Thursday at $28.63.