Truist downgraded Deckers Outdoor to Hold from Buy with a price target of $864, down from $983. Truist credit card data indicates that Hoka’s direct-to-consumer growth decelerated in mid-February and remained softer through March, the analyst tells investors in a research note. The firm lowered its segment growth forecast from 40%, where the Street currently is, to 25%. Truist says that while it is bullish on Hoka’s long-term potential, recent market reactions to slowing growth have been extremely negative. It now believes the stock’s risk/reward looks balanced.
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