Jefferies analyst Randal Konik reiterated his Buy rating and $100 price target on Deckers Outdoor (NASDAQ: DECK) post Q1 results.
"DECK put up better than expected 1Q results and provided positive updates on multiple fronts," the analyst noted. "DECK is now well positioned for 2013 with cleaner inventories, improving SSS trends and margin tailwinds from lower sheepskin costs."
He continued, "We continue to think the company's FY'13 outlook is conservative and expect upward earnings revision in the coming qtrs."
Deckers Outdoor remains a "Top Pick," the analyst said.