Strong growth outlook fuels Stifel to upgrade Deckers Outdoor to 'buy'

Stifel upgrades Hoka parent Deckers Outdoor DECK.N to "buy" from "underweight"; reiterates PT of $117

Brokerage sees strong fundamentals, brand momentum and financial strength

"The re-rated multiple presents attractive valuation on prevailing estimates, and better understanding of the drivers for both HOKA and UGG give us greater confidence in estimates into FY27E," Stifel says

DECK's 29% vs peers' 20% shows strong efficiency as brokerage says 20%+ margins are sustainable unless revenue slows significantly

14 of the 27 brokerages rate stock "buy" or higher, 11 "hold" and two "sell"; median PT is $109.19 - data compiled by LSEG

As of last close, DECK stock down ~60.3% YTD