1229 ET - Deckers Outdoor tumbles after guidance calls for its Hoka brand to grow sales at a slower rate than the past two years, UBS analysts say in a research note. Investors are also worried that growth across the company's Uggs brand will stall in the mid-single-digits. "We believe both fears would be misplaced," they write. The analysts forecast another year of robust sales at Hoka, driven by innovation, coupled with continued momentum across Uggs, as it expands to new categories beyond winter boots. Friday's sell-off--which has the stock down 17%, on pace for its largest percent decrease since March 2020--represents an attractive buying opportunity, they write. UBS raises its price target 6.4% to $284 and maintains its buy rating. (connor.hart@wsj.com)
(END) Dow Jones Newswires
January 31, 2025 12:29 ET (17:29 GMT)
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