Piper Jaffray is reiterating its Overweight rating and $20 price target on shares of Crocs, Inc. CROX.
In a note sent to clients, Piper Jaffray writes, "We are reiterating our Overweight rating and $20 price target following a group
meeting with CROX CEO and CAO. Sales of new styles appear to be tracking well indicating consumers are willing to pay higher prices for Crocs branded product. The company has made significant investments in its global infrastructure and is likely to see expanded operating margins as it levers fixed expenses. Maintain Overweight rating and $20 price target based on 20x FY11E EPS of $1.00."
Shares of CROX lost 27 cents yesterday to close at $17.31, a loss of 1.5%.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in