Deckers Outdoor price target raised to $613 from $560 at BTIG

BTIG raised the firm’s price target on Deckers Outdoor (DECK) to $613 from $560 and keeps a Buy rating on the shares. The analyst is updating the firm’s model following checks across e-commerce traffic, search interest analysis, and credit card panel data. BTIG further notes that the company’s UGG business continues to have strong growth in search interest, especially internationally, while also citing a “valuation disconnect” between the embedded valuation for Deckers’ HOKA brand and high-growth footwear peers such as On Holdings (ONON).