Truist Securities Downgrades Deckers Outdoor to Hold, Lowers Price Target to $864
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Joseph Civello downgraded Deckers Outdoor (DECK) from Buy to Hold and reduced the price target from $983 to $864.
April 10, 2024 | 11:25 am
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NEGATIVE IMPACT
Deckers Outdoor was downgraded by Truist Securities from Buy to Hold, with a price target reduction from $983 to $864.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future performance. The reduction in the price target further emphasizes the analyst's lowered expectations for Deckers Outdoor, likely leading to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100