Truist raised the firm’s price target on Deckers Outdoor to $205 from $204.17 and keeps a Buy rating on the shares. The firm notes that the recent concerns brought by investors have largely been centered around UGG’s growth opportunities as the brand laps extremely tough comparisons from last year’s Fall/Winter season, but its own review of Truist Card Data, TikTok trends, and Amazon best-sellers indicates that momentum for the company “remains robust”, the analyst tells investors in a research note. Truist adds that it is further encouraged about Deckers’ Lowmel sneaker, which appears to be gaining traction.
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