Susquehanna Cuts Target on Deckers (DECK) to $65, Sees Increased Buybacks This Year
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Price: $88.86 -2.96%
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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In addition to a downgrade from Longbow Research earlier, traders in Deckers Outdoor (Nasdaq: DECK) are also responding to a lowered price target at Susquehanna Friday morning.
Susquehanna now sees Decker shares rising to $65 over the next year, down by nearly 19 percent from a previous target of $80. The firm maintains a Positive rating.
Susquehanna's reduced target is based on the assumption Deckers will boost its buyback program markedly this year following a notable decline in the stock since January. "We suspect at these levels management is considering more aggressive options to support the stock," an analyst from the firm said.
With Deckers shares down about 5 percent to $45.13 at last check, Susquehanna's new price target still represents potential upside of about 44 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Deckers.
Susquehanna now sees Decker shares rising to $65 over the next year, down by nearly 19 percent from a previous target of $80. The firm maintains a Positive rating.
Susquehanna's reduced target is based on the assumption Deckers will boost its buyback program markedly this year following a notable decline in the stock since January. "We suspect at these levels management is considering more aggressive options to support the stock," an analyst from the firm said.
With Deckers shares down about 5 percent to $45.13 at last check, Susquehanna's new price target still represents potential upside of about 44 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Deckers.
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