Deckers Outdoor (DECK) PT Raised to 'Street High' $435 at Cowen

March 3, 2021 6:23 AM EST
Get Alerts DECK Hot Sheet
Price: $348.15 +3.39%

Rating Summary:
    22 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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Cowen analyst John Kernan raised the price target on Deckers Outdoor (NYSE: DECK) to 'Street High' $435.00 (from $365.00) while maintaining an Outperform rating.

The analyst commented, "Brand positioning and innovation with UGG and HOKA are producing improved DTC economics and an inflection in the model. We expect increased investments in infrastructure around DCs, logistics and tools to scale digital in FY22 to raise SG&A rates. Consensus estimates largely capture this dynamic and as we look into FY23 we see more upside to consensus margin expectations."

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