Deckers Outdoor Is Stepping In The Right Direction (Upgrade)
Deckers Outdoor Corporation has been upgraded to a 'buy' rating due to its improving growth and valuation compared to peers. The company's HOKA and UGG brands are driving significant revenue growth, although inflation and rising material costs have put pressure on margins. Despite these challenges, Deckers maintains a strong financial position with a debt-free balance sheet and substantial cash reserves.
- ▪Deckers Outdoor Corporation has been upgraded to a 'buy' rating.
- ▪The HOKA and UGG brands are driving robust revenue growth for the company.
- ▪Deckers maintains a debt-free balance sheet with $1.91 billion in cash.
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