UPDATE: Piper Jaffray Raises PT on Crocs to $36 Read more: http://www.benzinga.com/analyst-ratings/analyst-color/11/07/1792460/update-piper-jaffray-raises-pt-on-crocs-to-36#ixzz1Sq2P8nrM

Piper Jaffray is out with its report today on Crocs CROX, raising its PT from $28 to $36. In a note to clients, Piper Jaffray writes, "A review of best selling styles on Crocs' domestic website indicates the mix of new styles steadily increased during the spring/summer selling season and a similar analysis using the company's European websites points to comparable results in international markets. As such, we are raising our FQ2 estimate from $0.43 to $0.45 and our FY11 estimate from $1.10 to $1.14. We are also raising our price target from $28 to $36 based on 25x FY12E EPS as we believe Crocs has a multi-year opportunity to grow EPS at or above an annual rate of 25%." Piper Jaffray maintains Overweight on CROX. Shares of CROX closed Thursday at $26.92, down 1.72% from Wednesday's close. Read more: http://www.benzinga.com/analyst-ratings/analyst-color/11/07/1792460/update-piper-jaffray-raises-pt-on-crocs-to-36#ixzz1Sq2LO3N6