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Why Deckers Outdoor (DECK) Stock Is Surging Today

Deckers Outdoor (NYSE:DECK) stock is surging today following a change in the company’s price target.

Deckers OutdoorBrean Capital analysts cut Deckers Outdoor from $70 to $63 in an investors’ note on Wednesday. Additionally, the firm set a “buy” rating on DECK stock.

Brean’s price target cut was consistent with several other brokerages such as Canaccord Genuity, which reduced their price objective on the company from $75 to $72 with a “buy” rating.

Piper Jaffray reduced the target from $63.00 to $55.00 and set a “neutral” rating. Additionally, Telsey Advisory Group lowered their price objective on Deckers Outdoo from $73.00 to $66.00 and set a “market perform” rating on the stock.

DECK stock is up 3.7% Wednesday.

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