Deckers Outdoor (DECK) PT Raised to $190 at Barclays
Barclays analyst Adrienne Yih raised the price target on Deckers Outdoor (NYSE: DECK) to $190.00 (from $180.00) while maintaining a Overweight rating.
The analyst comments "Operating in the Bullseye. DECK is operating in the bullseye, with HOKA in the early stages of its global roll out and UGG continuing to innovate and also in the sweet spot of current lifestyle footwear trends. The ability of the company to continue to operate in the "bullseye" stems from a balanced offering of: 1) an early growth stage performance athletic offering in HOKA, and 2) a mature, high brand awareness fashion casual offering in UGG. We are encouraged with DECK's performance in FY2Q25 beating across the board, while also raising the full-year earnings outlook. In FY2Q25, total DECK sales grew +20% y/y driven by strength in both the wholesale and DTC channels. Specifically, HOKA grew +34.7% y/y while UGG grew +13.0% y/y. GM expanded to 55.9%, up 250 bps y/y due to brand mix towards HOKA, higher margin product within brands, reduced wholesale close-out sales, with partial offsets from increased freight and dilutive impact of channel mix as distributors took product earlier."