Deckers Outdoor downgraded to Underweight by Wells Fargo, $90 target set

Wells Fargo downgraded Deckers Outdoor Corporation (NYSE: DECK) to Underweight from its previous Equal Weight rating.

The firm assigned a $90 price target to the footwear and apparel company’s shares.

This rating indicates the analyst expects the stock to underperform the average return of their covered sector over the next 6 to 12 months.