TD Cowen analyst John Kernan met with Deckers Brands management and came away with more conviction in the outlook and brand strategy at HOKA. Management believes that the UGG brand is in a much stronger position now than it was five years ago and remains confident in long-term annual sales growth for UGG. Management made it clear it’s poised to reinvest top-line growth and gross margin expansion into SG&A and growth initiatives. TD Cowen reiterated its Outperform rating and $480 price target on Deckers Brands shares.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on DECK:
- TipRanks ‘Perfect 10’ List: There’s More Upside Ahead for These 2 Top Score Stocks
- Deckers Brands assumed with a Buy at BTIG
- Deckers Brands price target raised to $480 from $476 at Cowen
- Deckers Brands price target raised to $425 from $360 at Wells Fargo
- Deckers Brands price target raised to $500 from $455 at Baird