Deckers Outdoor downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Jesalyn Wong downgraded Deckers Outdoor (DECK) to In Line from Outperform with a price target of $110, down from $235, following the Q1 report. Once a “well-loved story” with strong growth momentum and margin expansion, Deckers might be entering a new phase of lower growth profile, the analyst tells investors in a research note. The firm sees signs of deceleration across its two key brand growth engines – Ugg and Hoka. With growth expectations moderating and external headwinds mounting from tariffs and weaker consumer sentiment, Deckers Outdoor’s current valuations “properly reflect the emerging risk,” contends Evercore. It sees limited near-term catalysts for share outperformance.