Truist keeps a Buy rating and $983 price target on Deckers Outdoor after the company announced the launch of its new “super sneaker brand” that the management briefly mentioned on its Q3 earnings call last month. The firm does not model any benefits from the launch but also sees upside potential down the road, especially considering Deckers’ “meaningful success” at driving brand heat for both UGG and HOKA, the analyst tells investors in a research note.
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