Deckers Outdoor price target raised to $920 from $835 at Citi

Citi raised the firm’s price target on Deckers Outdoor to $920 from $835 and keeps a Neutral rating on the shares. The firm expects a “big” sales and earnings beat when Decker’s reports fiscal Q4 on May 23. The analyst believes the bar is for Ugg to grow mid-single-digits and Hoka to grow 20%-plus in fiscal 2025. While both are possible, the bar is high, particularly for Ugg given tough comparisons and visibility into its outsized Q3, the analyst tells investors in a research note. Citi thinks the stock’s risk/reward is balanced at current levels.