FMP
BTIG Reiterates Buy Rating on Deckers Ahead of Earnings Report
May 20, 2024 12:42 PM - Davit Kirakosyan
Image credit: FMP
BTIG analysts reaffirmed their Buy rating and a $1,020 price target for Deckers Outdoor’s (NYSE:DECK) stock, ahead of the company’s Q4 results on May 23.
The analysts expect Q4 results to surpass consensus estimates, with ongoing strong performance for both HOKA and UGG. Despite concerns about a potential slowdown for HOKA during the quarter, the analysts attribute any issues to launch calendar timing rather than a decrease in demand.
For UGG, continued momentum is anticipated, with Q4 benefits from key holiday styles and successful seasonal styles. While management may offer conservative guidance for 2025, potentially below consensus, the analysts believe the market is prepared for this and would view any weakness as a buying opportunity.
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