Piper Jaffray analyst Erinn Murphy reiterated an Overweight rating on Deckers Outdoor (NASDAQ: DECK) and raised her price target from $96 to $105 following solid Q4 results, saying the portfolio is gaining traction across all brands.

Murphy comments, "We remain buyers of shares of DECK following the company's solid Q4 report (March-end) in which sales were up 12% Y/Y--well ahead of management's +6% guidance. The company reported a LPS of ($0.08) vs. our estimate of ($0.16). Comp-store sales were up 4%, e-commerce growth +45% and gross margin was up 210 bps. We are particularly pleased by the 19% increase in the order book (4/21 end). Importantly, the wholesale distributor channel is expected to be +LDD across all brands. We are raising our estimates and increasing our PT to $105 (from $96). We believe our estimates are highly conservative given momentum in e-com, positive LSD comps guidance and solid traction across UGG, HOKA, Teva and Sanuk."

FY 2015 EPS goes from $4.60 to $4.75 and FY 2016 EPS goes from $5.65 to $5.82.

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Shares of Deckers Outdoor closed at $78.53 yesterday.