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Jefferies Reiterates Buy on Deckers Outdoor (DECK) Following 4Q

May 27, 2016 8:37 AM EDT
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Price: $941.26 +0.36%

Rating Summary:
    25 Buy, 15 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Jefferies maintained a Buy rating and $75.00 price target on Deckers Outdoor (NYSE: DECK) following the company's 4Q report. Jefferies sees encouraging signs in the report, including solid unit sales for the UGG brand, a favorable response from wholesalers for the spring 2017 lines, and continued strong sell-through of non core styles which are being continually expanded.

Analyst Randal Konik commented, "F'4Q beat off a higher top-line, although this was partially driven by higher closeouts, which weighed on GM. We see encouraging signs in the report, including solid unit sales for the UGG brand and only a modest decline in backlog. We see fundamentals improving, as DECK benefits from product and marketing efficiencies, better cost discipline, and more normalized winter. Reiterate Buy, $75 PT."

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 $49.25 yesterday.



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Jefferies & Co, Randal Konik