Buy the Confusion on Deckers Outdoor (DECK), Janney Says

Janney Capital analyst Eric Tracy reiterated a Buy rating and $100 price target on Deckers Outdoor (NASDAQ: DECK) telling clients to buy the confusion following Q2 results.

Tracy commented, "We recommend investors take advantage of the confusion following DECK's FQ2 print, based on: 1) FY15 EPS is essentially unchanged (despite timing shifts) and 2) likely conservative given pull forward setting up for potential increased reorders (retailers better positioned for holiday). Store comps warrant monitoring (-9% in 2Q), however believe the evolution of DTC helps offset. The focus now shifts to sell-through, however believe potential for upside exists (particularly should weather cooperate). We maintain our $100 FV (18x our FY16 EPS)."

For an analyst ratings summary and ratings history on Deckers Outdoor click here. For more ratings news on Deckers Outdoor click here.

Shares of Deckers Outdoor closed at $79.80 yesterday.

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