Baird Reiterates Outperform Rating on Deckers Outdoor (DECK)

Baird analyst Jonathan Komp reiterated an Outperform rating and $225.00 price target on Deckers Outdoor (NYSE: DECK)

The analyst comments: "Maintaining Outperform rating. While the Mag 7 have driven the market, shares of DECK have risen roughly 10-fold since 2019 – highlighting the potential for well-positioned, growing brands. Breaking down DECK's +50% compounding return since 2019 shows earnings (up ~5X) and valuation (up ~2X) drivers. Today DECK's premium growth and return/ROIC characteristics look sustainable, which combined with favorable current indicators for UGG/HOKA, still support our favorable view even with expected lower future stock returns. More broadly, we think ONON, AS, CROX, BOOT, and PLNT all could still have multi-bagger potential today."

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 $207.11 yesterday.

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