Deckers Outdoor price target raised to $1,000 from $898 at TD Cowen

TD Cowen analyst John Kernan raised the firm’s price target on Deckers Outdoor (DECK) to $1,000 from $898 and keeps an Outperform rating on the shares. The firm says Deckers has nearly the largest dollar volume of short interest in the sector at $770M or 3.5% of the float, which it finds “perplexing.” The analyst believes investors are cautious on direction of EBIT margin into fiscal 2025 off peak levels. However, TD’s survey shows pronounced gains for Ugg and Hoka with “pronounced” share loss at Nike (NKE), the analyst tells investors in a research note.