Deckers Brands price target raised to $535 from $485 at Piper Sandler

Piper Sandler analyst Abbie Zvejnieks raised the firm’s price target on Deckers Brands to $535 from $485 and keeps an Overweight rating on the shares. Piper’s 45th semi-annual survey of teens shows strength across both the company’s Ugg and Hoka brands, the analyst tells investors in a research note. Ugg moved into the top 10 footwear ranking and Hoka gained share with teens in athletic footwear, says Piper. The firm sees further opportunity within lifestyle for Hoka and sales upside for both brands compared to consensus numbers for fiscal 2024.