Sterne Agee Upgrades Deckers Outdoor (DECK) to Neutral on Risk/Reward
Intra-day Sterne Agee's Sam Poser, a noted bear on the stock, upgraded Deckers Outdoor (NASDAQ: DECK) from Underperform to Neutral.
"The Risk/Reward at these levels lead us to upgrade the stock. The worst is not over, but we anticipate capitulation by management by 4Q12 earnings. We would not be buyers of the stock. We see material margin risk both in 4Q12 and into 2013. Lowering FY12 and FY13 EPS estimates from $3.49 and $3.62 to $3.16 and $3.31. We would like to have more confidence in the guidance but management has not yet responed to us."
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 are down 15.84% to $29.87.
"The Risk/Reward at these levels lead us to upgrade the stock. The worst is not over, but we anticipate capitulation by management by 4Q12 earnings. We would not be buyers of the stock. We see material margin risk both in 4Q12 and into 2013. Lowering FY12 and FY13 EPS estimates from $3.49 and $3.62 to $3.16 and $3.31. We would like to have more confidence in the guidance but management has not yet responed to us."
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 are down 15.84% to $29.87.