** Hoka-owner Deckers Outdoor's DECK.N shares rise ~2% to $108 premarket

** Jefferies raises rating on the running shoe maker to "buy" from "hold," citing improved confidence in recovery of brand Hoka and durable growth in brand UGG

** Ups PT on stock to $130 from $110, representing a 22.7% premium to its Friday close

** "We think Hoka has meaningful runway for product innovation that still leads with performance and functional aspects but leans into comfort" - Jefferies

** Sees operating margin growth over time, especially as oil prices normalize

** Says DECK's new medium-term guidance is a "significant development" because it signals management now has better visibility on sustaining growth and maintaining margins

** 14 of 27 brokerages rate the stock "buy" or "higher", 11 "hold" and two "sell"; their median PT is $130, as per estimates compiled by LSEG

** Up to last close, stock up about 2% YTD