Deckers Brands price target raised to $450 from $393 at Cowen

Cowen analyst John Kernan raised the firm’s price target on Deckers Brands to $450 from $393 and keeps an Outperform rating on the shares. The analyst calls it a top idea within the theme of margin recovery as they lap elevated freight and shipping costs from last year given top-line momentum at UGG and HOKA, and he thinks they are poised for a beat and raise when they report Q3 results in February.