Deckers Outdoor (DECK) PT Raised to $150 at Susquehanna Following 3Q Report

Susquehanna analyst Sam Poser raised the price target on Deckers Outdoor (NYSE: DECK) to $150.00 (from $140.00) while maintaining a Positive rating following the company's 3Q. DECK posted EPS/revenue of $6.59/$873.8M vs. the Street's $5.29/$822.9M, and guidance of $5.10-$5.25/$805M-$825M. The beat was driven by higher than anticipated revenue and margins from the HOKA, Koolaburra, and UGG brands.

The performance of UGG in 3Q19, is evidence that the allocation/segmentation strategies are yielding very positive results. FY19 guidance for the brand was raised from -1.0% to flat. Poser believes the benefits from the allocation/segmentation strategies are in the early stages and that a pull-model (supply

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