Worst Over for Deckers Outdoor's (DECK) UGG Brand

Sterne Agee's Sam Poser is reiterating his Buy rating and $65 price target intra-day on Deckers Outdoor (NASDAQ: DECK), saying the worst is over for the UGGs brand.

"Buy DECK as we believe the worst is virtually over for the UGG brand. In order to take advantage of the holiday traffic, Nordstrom (NYSE: JWN) has begun to markdown more discontinued styles at 33% off. The majority of the new markdowns are styles that are not directly associated with the UGG brand, cold weather styles, and some Classic derivatives that were priced too high to begin with. The cleansing is necessary in order to be positioned for 2013."

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 $35.72 yesterday.

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