Consumer
Hoka Parent’s Share Slump Is a Chance to Buy Trendy Brands, Wedbush Says
- Deckers leads consumer stocks in past year despite recent drop
- Analyst says popular Ugg and Hoka brands still going strong
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With Hoka and Ugg parent Deckers Outdoor Corp. peeling back from all-time highs, it’s the right time to buy, according to one Wedbush analyst.
The footwear company, which Tom Nikic says is “one of the strongest, best-run companies” in his coverage, is down nearly 20% from a closing record reached at the end of May. That’s a significant discount for Nikic, who has an outperform rating and $1,030 price target on the stock, about 16% above current trading.