Stifel Downgrades Deckers Outdoor to Hold, Raises Price Target to $709
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Jim Duffy has downgraded Deckers Outdoor (NYSE:DECK) from Buy to Hold while increasing the price target from $600 to $709. This reflects a more cautious stance on the stock's current valuation, despite the raised price target suggesting a belief in the company's underlying value and growth prospects.
December 14, 2023 | 10:42 am
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NEUTRAL IMPACT
Deckers Outdoor has been downgraded by Stifel from Buy to Hold, indicating a neutral outlook, but the price target increase to $709 suggests confidence in the company's potential.
The downgrade to Hold suggests that Stifel believes Deckers Outdoor's stock may not provide significant upside at its current price, indicating a neutral short-term impact on the stock price. However, the increase in the price target to $709 reflects a positive view on the company's long-term value, which could mitigate any negative reaction to the downgrade. The mixed signals may lead to a balanced market reaction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100