BUZZ-Strong growth outlook fuels Stifel to upgrade Deckers Outdoor to 'buy'

Reuters11-18
BUZZ-Strong growth outlook fuels <a href="https://laohu8.com/S/SFB">Stifel</a> to upgrade <a href="https://laohu8.com/S/DECK">Deckers Outdoor</a> to 'buy'

** Stifel upgrades Hoka parent Deckers Outdoor DECK.N to "buy" from "underweight"; reiterates PT of $117

** Brokerage sees strong fundamentals, brand momentum and financial strength

** "The re-rated multiple presents attractive valuation on prevailing estimates, and better understanding of the drivers for both HOKA and UGG give us greater confidence in estimates into FY27E," Stifel says

** DECK's 29% vs peers' 20% shows strong efficiency as brokerage says 20%+ margins are sustainable unless revenue slows significantly

** 14 of the 27 brokerages rate stock "buy" or higher, 11 "hold" and two "sell"; median PT is $109.19 - data compiled by LSEG

** As of last close, DECK stock down ~60.3% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

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