Auriga Suggests Using Weakness on Deckers Outdoor (DECK) as Buying Opportunity; Expects Normalized Growth in 2013
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Price: $93.09 --0%
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Auriga reiterates a 'Buy' on Deckers Outdoor (NASDAQ: DECK), but price target lowered to $100.
Auriga analyst said, "We are lowering our 2012 EPS estimate and cutting our PT on DECK to incorporate higher than expected costs in the coming year. We believe the lower EPS growth in 2012 should be unique to the upcoming year and is a reflection of higher product costs combined with SG&A investments in Europe and Asia. We believe mitigating input costs and more tempered SG&A spending growth in 2013 should return DECK to annualized 17-20% annual earnings growth. We do expect short term pressure on DECK shares given the lower than expected guide, but would use weakness to accumulate positions."
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.
Auriga analyst said, "We are lowering our 2012 EPS estimate and cutting our PT on DECK to incorporate higher than expected costs in the coming year. We believe the lower EPS growth in 2012 should be unique to the upcoming year and is a reflection of higher product costs combined with SG&A investments in Europe and Asia. We believe mitigating input costs and more tempered SG&A spending growth in 2013 should return DECK to annualized 17-20% annual earnings growth. We do expect short term pressure on DECK shares given the lower than expected guide, but would use weakness to accumulate positions."
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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