Deckers Outdoor (DECK) PT Raised to $82 at Jefferies Following Solid 2Q
Jefferies raised its price target on Deckers Outdoor (NYSE: DECK) to $82.00 (from $74.00) while maintaining a Buy rating following the company's 2Q earnings report. DECK posted a solid 2Q, beating revenue and margin expectations.
The core UGG brand remains strong and HOKA momentum continues. Analyst Randal Konik believes the formal conclusion of strategic alternatives will allow management to focus on executing the profit improvement plan, which will be key in realizing a mid-teens op. margin by F'20.