Apparel brands company Deckers Outdoor (NYSE:DECK) climbed in midday trading Monday following a research upgrade.
Pivitol Research raised its rating on the stock to buy from hold, Briefing.com reported.
Shares of the maker of Ugg footwear gained about 3%.
Pivotal pointed to favorable weather expected in October and November and also momentum in the company’s Hoka brand trail running shoes.
Deckers stock sits well below its 52-week high of more than $180, having taken a sharp hit late July when it guided earnings and sales below consensus estimates.
