Canaccord analyst Camilo Lyon said Deckers Brands reported "blowout" Q2 results and with its conservative guidance, the second half of 2018 appears solid. He said the company's strategic efforts around product innovation, segmentation, controlled distribution, marketing and supply chain have all come together to position the company for a solid second half. Lyon reiterated his Buy rating and raised his price target to $142 from $137 on Deckers Brands shares.
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As previously reported, BofA downgraded Deckers Outdoor to Neutral from Buy with a price target of $860, down from $875, as the firm sees a better risk/reward elsewhere in the analyst's coverage. The firm is "not making a call that near-term trends at UGG and HOKA are breaking," it does note that expectations are high and expresses cautiousness that a softer-than-expected margin outlook could temper the pace of upward earnings revisions.