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Deckers shares jump on holiday season potential

Deckers Outdoor Corp. shares jumped Monday after several analysts said they expect the maker of Ugg boots will have a solid holiday season. THE SPARK: While there has been some concern that the Ugg brand had lost its cache and sales may sag, Jefferies analyst Randal Konik says a number of factors are working in the company's favor. Cold weather, after two warm winters, could increase consumer demand for Uggs, the analyst said in a research note. New products appear to be resonating with shoppers and retailers are prominently featuring them in stores. And Oprah, whose opinion is worth its weight in gold to many, put one of the Ugg boots on her annual list of "Favorite Things." Konik reiterated a "Buy" rating on the company's stock and a $100 price target. PiperJaffray analyst Erinn Murphy raised her price target to $80 from $74 saying that the Ugg brand is well-positioned for the holiday season. The next two months are critical for the brand and she said that in addition to favorable weather, new products will help improve the company's financial performance. These include a new customization feature online, which appeals to consumers' growing desire for personalized products. THE BIG PICTURE: The company, based in Goleta, Calif., makes Ugg boots, Teva sandals and other specialty shoes. SHARE ACTION: Shares of Deckers increased more than 5 percent to $71.96 by early afternoon. Its stock hit a 52-week high of $73.07 earlier in the day. The shares have gained more than 78 percent this year.