Stifel Nicolaus thinks investors should buy into Deckers Outdoor (NASDAQ:DECK) as the shoe stock sees volatile trading this quarter. Shares fell almost 5% yesterday due to a less-than-stellar results from Shoe Carnival. In particular, weak boot sales from SCVL rattled Deckers investors.
The investment firm sees "low-hanging fruit for margin improvement" and was impressed by the Deckers product review last night in NYC.
Stifel has a Buy rating and $68 price target on Deckers.
Previously: Promotions warning from Shoe Carnival resonates across sector (Nov. 29)