Canaccord Genuity Reiterates a 'Buy' on Deckers Outdoor (DECK); Cutting Estimates
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Price: $91.68 +3.17%
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Deckers Outdoor (NASDAQ: DECK) price target lowered from $122 to $105.
Analyst, Camilo Lyon, said, "DECK will report Q4/11 earnings February 23 after the market close. While Q4 earnings will be important, we are all waiting for 2012 guidance. As per usual, DECK will likely err on the side of conservatism with respect to 2012 guidance, and likely more so this time considering the potential impact to orders from warmer weather and known gross margin headwinds. In order to conform to what we believe DECK will say, rather than what we believe they can actually do, we are lowering our 2012 EPS estimate to $5.60 from $6.15 and our six-month price target to $105. That said, the brand is not broken and the key growth drivers to our thesis (international and retail expansion) are intact, we believe."
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 $90.11 yesterday.
Analyst, Camilo Lyon, said, "DECK will report Q4/11 earnings February 23 after the market close. While Q4 earnings will be important, we are all waiting for 2012 guidance. As per usual, DECK will likely err on the side of conservatism with respect to 2012 guidance, and likely more so this time considering the potential impact to orders from warmer weather and known gross margin headwinds. In order to conform to what we believe DECK will say, rather than what we believe they can actually do, we are lowering our 2012 EPS estimate to $5.60 from $6.15 and our six-month price target to $105. That said, the brand is not broken and the key growth drivers to our thesis (international and retail expansion) are intact, we believe."
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 $90.11 yesterday.
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