Deckers Outdoor Faces Direct-To-Consumer Growth Slowdown, Analyst Downgrades Stock
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Truist Securities analyst Joseph Civello downgraded Deckers Outdoor Corp (NYSE:DECK) stock to Hold from Buy and cut the price target to $864 from $983.
The analyst wrote that Truist Card Data indicated HOKA’s Direct-to-Consumer (DTC) growth decelerated in mid-February and remained softer through March.
Consequently, the analyst lowered the segment growth forecast to 25% (to $190 million) from ~40% (to $210 million).
The analyst …
Full story available on Benzinga.com
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