As much as I appreciate the analysts all jumping in and raising Deck's price targets I am inclined to only favor Randal Konik of Jefferies & Co. Give credit where credit is DESERVED! Why do you ask?
On 3/28/2013 Jefferies aggressively boosted its price target on Deckers Outdoor (NASDAQ: DECK) from $65 to $100, saying the stock remains their No. 1 Pick.
"We view UGG brand as a core staple and believe recent challenged fundamentals were driven by external factors such as weather and rising costs," analyst Randal J. Konik said. "Sheepskin, the most significant raw material, has increased 80% over the last two years. Here we discuss the sheepskin market and what it means to DECK. We expect the sheepskin dynamic to become more favorable and DECK earnings to move higher."
Of course he could have been wrong, but he certainly seems to have better insight than all the others. In my book, he certainly deserves kudos. This is the opposite of what Sam Poser did when he ALONE brought the stock to it's knees so that Goldman Sachs can buy more shares. That Mr Poser was UNFAIR and don't think investors or management have forgotten this!
You know I dislike Sam Poser as much as the next guy and I do believe that he gave the shorts ammo. But if he were a trader as opposed to just an analysts, it boggles my mind how his price targets have been nailed.
How Deckers/UGGS was ever worth 990M 12 months ago is beyond me and I experienced the drop from the 80's on which I averaged down on this great brand.
But he nailed the sheepskin hit to a tee and he nailed the turnaround. All around pretty decent analysis. It was just that it had nothing to do with investing. It was all short term. Investing means looking ahead and seeing a company that makes plenty of cash and the oppurtunity it has for international growth which is of upmost importance today.
But in general, I prefer to do my own analysis. A lot of these analysts imo are calling the last 10-15% for this year and means we might be on the cusp of some profit taking before upward trends resume next september which is awhile from now. Stock could be stuck for awhile.