Jefferies Lifts Deckers Price Target to $105, Citing HOKA's Direct-to-Consumer Strength

Jefferies raised its price target for Deckers Outdoor (DECK) from $102 to $105. The firm simultaneously reaffirmed a 'Hold' rating on the shares.

Jefferies based the decision on expectations for stronger direct-to-consumer (DTC) sales for the HOKA brand.

Ahead of the January 29 third-quarter earnings report, Jefferies raised its earnings per share estimate to $2.83. This estimate surpasses the Wall Street consensus of $2.77.

The analyst projects HOKA's DTC sales will grow 11% year-over-year. This projection exceeds the 8% consensus estimate. Jefferies anticipates a 5% decline for the UGG brand.