Deckers Outdoor price target raised to $650 from $640 at BTIG

BTIG raised the firm’s price target on Deckers Outdoor to $650 from $640 and keeps a Buy rating on the shares. Deckers reported a significant beat, amid concerns of slowing HOKA growth, which did not come to fruition, the firm said in a research note on Friday. The beat was largely driven by UGG, key as it enters by far its most important quarter of the year. BTIG continues to believe investments in brand and direct to consumer are paying dividends, allowing for significant outperformance in a tough environment.