Deckers Outdoor shares are trading lower after Stifel downgraded the stock from Buy to Hold but raised its price target from $600 to $709.
Portfolio Pulse from Benzinga Newsdesk
Deckers Outdoor's stock (DECK) trades lower following a downgrade from Buy to Hold by Stifel, despite an increase in the price target from $600 to $709.
December 14, 2023 | 2:50 pm
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NEGATIVE IMPACT
Deckers Outdoor's stock price is negatively impacted in the short term due to Stifel's downgrade from Buy to Hold, even though the price target was raised.
Analyst downgrades typically lead to a negative perception among investors, causing short-term price declines. The increase in price target may mitigate the impact slightly, but the downgrade is the prevailing factor in the immediate market reaction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100