** Shares of footwear maker Deckers Outdoor DECK.N rise 1% to $119.25

** Argus Research upgrades DECK to "buy" from "hold"

** Says DECK appears to be back on track with a reliable sales growth trajectory and forecasting ** DECK is the manufacturer and distributor of popular footwear brands UGG and HOKA

** Both brands have shown sales growth over the past four quarters including Q3 with UGG up 5%, and HOKA up 19% year over year - Argus

** DECK shares have outperformed in the past three months, rising 41% compared to a 4% increase for the S&P 500, brokerage says

** 14 of 27 analysts rate stock "strong buy" or "buy", 10 "hold" and 3 "sell" or "strong sell"; their median PT is $129 - data compiled by LSEG

** As of last close, DECK up 13.8% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))