Market Overview

UPDATE: Credit Suisse Upgrades Deckers Outdoor on Positive Growth Outlook

Related DECK
Apparel Stocks Q3 Earnings On Tap: Deckers Outdoor, Columbia, Carter's
From Nike To Netflix: What Teens Love And Hate In 2017
Deckers Outdoor Earns Relative Strength Rating Upgrade; Hits Key Benchmark (Investor's Business Daily)

In a report published Monday, Credit Suisse analyst Christian Buss upgraded the rating on Deckers Outdoor (NASDAQ: DECK) from Underperform to Neutral, and raised the price target from $61.00 to $82.00.

In the report, Credit Suisse noted, “Results were robust across geographies and channels, with the outlook for continued top-line and earnings growth; this suggests that recent (aggressive) investments in owned retail and international will ultimately generate higher returns than previously anticipated. When combined with a return to inventory discipline and a modest tailwind from the acquisition of Hoka One One, we now think that modest topline growth and double-digit earnings growth can be sustained. In short, our caution regarding SG&A investment was misplaced and we got this one wrong.

"We now believe that DECK shares warrant a multiple inline with footwear peers (15x forward earnings) which suggests a 12-month target price of $82. We upgrade shares to Neutral.”

Deckers Outdoor closed on Friday at $83.16.

Latest Ratings for DECK

Oct 2017Morgan StanleyMaintainsEqual-Weight
Oct 2017BuckinghamMaintainsNeutral
Oct 2017CitigroupMaintainsNeutral

View More Analyst Ratings for DECK
View the Latest Analyst Ratings

Posted-In: Christian Buss Credit SuisseAnalyst Color Upgrades Analyst Ratings


Related Articles (DECK)

View Comments and Join the Discussion!

Partner Center