Deckers Outdoor Corporation (DECK, Financial) has received an upgrade from Raymond James, with its rating elevated from "Outperform" to "Strong Buy." The financial services firm has set a new price target of $150, revised down from the previous target of $235.
According to the analyst's research note, Raymond James expects Deckers Outdoor to exceed low expectations for the fourth quarter, with financial guidance for fiscal year 2026 anticipated to align with predictions. Despite a slowdown in the growth of its HOKA brand, the firm remains optimistic about its long-term potential. Additionally, the moderation in the UGG brand's performance has already been factored into forecasts.
The investment firm's analysis of Deckers Outdoor's individual business components points to a valuation for the stock that is significantly higher than its current price, further supporting the upgraded rating.
