UGG is Not Dead: Buy This Stock (DECK) - Jefferies

Jefferies reiterated its Buy rating and $50 price target on Deckers Outdoor (NASDAQ: DECK) following recent channel checks.

"We did more UGG channel checks which re-affirm our belief that this brand is not dead. We think the colder weather is helping drive sales once again, and see upside from margin tailwinds in the NT. Meanwhile visible LT growth opportunities include DECK's retail store rollout, int'l expansion, brand extensions, and the smaller brands. With valuation attractive, we would aggressively buy DECK at current levels. Reiterate Buy, $50 PT."

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 $30.66 yesterday.

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