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Fly News Breaks for January 21, 2016
DECK
Jan 21, 2016 | 07:38 EDT
Citi analyst Corinna Van der Ghinst lowered her estimates for Deckers Outdoor to reflect a warmer than expected holiday selling season and increased year-over-year markdowns to clear obsolete product. She also cut her price target for the shares to $56 from $81. The analyst believes the issues are already priced into the stock, however, and reiterates a Buy rating on the name. Van der Ghinst also sees potential for Deckers to be a takeout target.
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