Why Deckers Outdoor's Stock Is Trading Higher Today

Deckers Outdoor Corporation DECK shares are trading higher after Wedbush upgraded the company’s stock from Neutral to Outperform.

"Our analysis & conversations with mgmt give us confidence that its business model should be able to weather the current global economic shock with notably less sales & earnings pressure than peers, supported by a solid balance sheet & compelling valuation, with shares trading at a ~20% discount to historic levels," said Wedbush analyst Christopher Svezia.

Deckers Outdoor designs and sells casual and performance footwear, apparel and accessories. Primary brands include UGG, Teva, and Sanuk.

Deckers Outdoor shares were trading up 15% at $131.24 on Tuesday. The stock has a 52-week high of $203.19 and a 52-week low of $78.70.