Canaccord raised Deckers estimates with a new $111 price target from 91 backing up Sterne Agee and Jeffries. NOW THE SQUEEZE will begin, AFTER tomorrows SHORT NUMBERS which are expected to be still high. MONDAY we should see this stock at $100.
Well, you might see 100 on Monday, or you might see some profit taking on a stock that has increased $20 in three months. I guess if you are a trader, you worry about that. If you are investor - i.e., in for the long haul - you are less (or even not) concerned about these swings. My last complete analysis on DECK was end of September last year. At that point (trading just south of $66), it looked like a possible buy. I was projecting a high about $150 - but that is a 5-year range. Without repeating the analysis, I think the P/E must be a bit rich right now. I am also not enamored with the EPS being less than the comparable quarter from the previous year for the last three quarters. I bought this at a bit over $47 in Sep 2010. I think I'll wait for better earnings results before considering adding more.
As I stated earlier, every upgrade, every storm, every report of brisk sales, just keeps adding nails to the short's coffin. I think we are in for quite a ride by the end of the month, and right through until earnings at the end of Feb.