Deckers Outdoor rises as Argus upgrades to 'buy' on strong UGG, HOKA sales

Shares of footwear maker Deckers Outdoor DECK.N rise 1% to $119.25

Argus Research upgrades DECK to "buy" from "hold"

Says DECK appears to be back on track with a reliable sales growth trajectory and forecasting
DECK is the manufacturer and distributor of popular footwear brands UGG and HOKA

Both brands have shown sales growth over the past four quarters including Q3 with UGG up 5%, and HOKA up 19% year over year - Argus

DECK shares have outperformed in the past three months, rising 41% compared to a 4% increase for the S&P 500, brokerage says

14 of 27 analysts rate stock "strong buy" or "buy", 10 "hold" and 3 "sell" or "strong sell"; their median PT is $129 - data compiled by LSEG

As of last close, DECK up 13.8% YTD