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UPDATE - Auriga Downgraded Deckers Outdoor (DECK) to Hold; Moving To Sidelines As Risk Increases

April 27, 2012 1:11 PM EDT Send to a Friend
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Price: $79.57 --0%

Rating Summary:
    13 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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UPDATE - Auriga downgraded Deckers Outdoor (NASDAQ: DECK) from Buy to Hold, price target lowered from $100 to $65.

Analyst, Claire Gallacher, said, "The stock is already down, but we see risk to 2H. We are downgrading shares of DECK even with the recent slide in share price. DECK reported a disappointing Q1 as closeouts for Teva and UGG pressured gross margins more than originally anticipated. Guidance was lowered for 2012 due mostly to weakening international sales and lower Teva expectations. While downgrading a stock already at lows is disconcerting, we do feel that our 2H assumptions of +12% revenue and (130) bpts of EBIT margin compression may be optimistic."

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