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Thursday, Sep 26
Deckers shares rise; Wedbush upgrades, optimistic on Ugg diversification
- Deckers Outdoor (DECK +2.9%) shares rise after Wedbush upgrades the stock to Outperform from Perform and hikes its PT to $74 from $54.
- Analyst Corinna Freedman is bullish after positive conversations with management, citing diversification of the Ugg product line aimed at men, juniors, and home products. However, "[w]eather, inventory and gross margin recovery remain risks to [Wedbush's] outlook."