Wedbush analysts added Deckers Outdoor Corp. to their Best Ideas List Thursday, writing that the owner of UGG was a rare earnings success story in an “extremely challenging retail environment” last quarter, as the company was among the few in the sector to increase its outlook. “The rapidly-growing Hoka brand remains one of the most compelling, high-momentum growth stories in our space, while we’ve become more comfortable with the direction of the UGG brand,” the Wedbush analysts wrote. “Given the combination of top-line growth, strong margins, and a fortress balance sheet, we think that this high-quality name is poised to be a continued outperformer.” The team at Wedbush also took shares of Advanced Micro Devices Inc. off the Best Ideas List, citing “investment price discipline.”

-Emily Bary

(END) Dow Jones Newswires

09-15-22 0714ET

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