Meeting with Deckers Outdoor (DECK) Management Suggests Solid Q4 Results - Jefferies

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Jefferies reiterated their Buy rating and $125 target on Deckers Outdoor (NASDAQ: DECK) following a meeting with management.

The firm said they walked away from the meeting "feeling very good about 4Q11 EPS, sell-through and UGG brand momentum." Weather does not seem to be having the adverse effect that many have feared, Jefferies said.

Jefferies recommends investors buy the stock ahead of what they believe will be solid Q4 results and as they believe risk to 2012 EPS (from margins, not sales) seems priced in at this point.

Commenting on Q4, the firm said: "Management's positive tone gives us the impression that 4Q11 EPS is fully intact and in our opinion, likely to beat. The business is almost all pre-booked, giving the company good visibility when it provided its initial 4Q guidance in late October. The company appeared pleased with the sell-through of Fall/Winter season product across classics, fashion and even weather-relatd product."

DECK has not yet scheduled its Q4 earnings report, but its is expected around February 24th.

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 $84.96 yesterday, with a 52 week range of $71.18-$118.90.

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