Piper Jaffray Reiterates Overweight on Crocs Inc. (CROX)

Piper Jaffray is out with a research report this morning, where it reiterates its Overweight rating on Crocs Inc. CROX; it has a $17.00 price target on the stock. The PJ analysts said that they are incrementally more positive on CROX following a tour of the company's North American distribution facility and a booth visit at the recent MAGIC trade show. Although they are note yet raising estimates, they do have increased confidence in management’s ability to achieve mid-teen operating margins over the next several quarters. They reiterated their view that CROX is their best small cap play given the strong top line growth prospects in all global regions.