Jefferies Initiates Buy Rating And $75 PT On Deckers Outdoor

Jefferies & Company is initiating coverage on Deckers Outdoor Corporation DECK with a Buy rating and a $75 price target. “We continue to see UGG as a double-digit growth story with potential for 20% annual revenue growth over the next 3-5 years,” Jefferies writes. “2011 is set to be an inflection in the UGG brand's international trajectory as it assumes direct control in the UK and Benelux, its two largest non-U.S. regions.” Deckers Outdoor Corp. currently trades at $65.29.