Jefferies Lowers Numbers on Deckers Outdoor (DECK), But Still Buyers as the Dust Settles
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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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Jefferies maintains a 'Buy' on Deckers Outdoor (NASDAQ: DECK) price target lowered from $125 to $120.
Jefferies analyst says, "This stock is still a Buy if you believe in the brand (which we do). A noisy quarter comes down to 3 key points: 1) warm weather is playing a bigger role than we thought; 2) expectations have been reset lower; and 3) bear thesis lacks near-term catalysts. We see a steady recovery against a lower set of expectations. See downside risk in the high $70's (15x a conservative $5.08 FY12 outlook)."
Jefferies lowers FY12 EPS estimate from $6.10 to $5.25 and FY13 from $7.50 to $6.60.
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 $90.21 yesterday.
Jefferies analyst says, "This stock is still a Buy if you believe in the brand (which we do). A noisy quarter comes down to 3 key points: 1) warm weather is playing a bigger role than we thought; 2) expectations have been reset lower; and 3) bear thesis lacks near-term catalysts. We see a steady recovery against a lower set of expectations. See downside risk in the high $70's (15x a conservative $5.08 FY12 outlook)."
Jefferies lowers FY12 EPS estimate from $6.10 to $5.25 and FY13 from $7.50 to $6.60.
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 $90.21 yesterday.
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