Citigroup Downgrades Deckers Outdoor to Neutral, Raises Price Target to $710
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Paul Lejuez has downgraded Deckers Outdoor (NYSE:DECK) from Buy to Neutral while increasing the price target from $665 to $710. This reflects a more cautious stance on the stock despite the raised target.
December 08, 2023 | 11:59 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Deckers Outdoor was downgraded by Citigroup from Buy to Neutral, but the price target was raised from $665 to $710, indicating a complex outlook.
The downgrade to Neutral suggests that Citigroup believes Deckers Outdoor may not provide the same level of growth or return as before, signaling a potential slowdown or plateau in stock performance. However, the increase in the price target to $710 implies that Citigroup still sees some upside potential, albeit with more caution. This mixed signal can lead to short-term uncertainty among investors, potentially resulting in a neutral impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100