Sterne Agee Reiterates Buy on CROX, $30 PT

Sterne Agee has issued a report reiterating a Buy Rating on Crocs Inc. CROX. According to the report, "We remain confident that our Street-high FY11 and FY12 EPS estimates of $1.16 (FC $1.12) and $1.51 (FC $1.41) will likely be conservative. We also believe that our revenue estimates which call for a 29% increase in '11 and a 10% increase in 2012 will prove to be below the reported results, especially in 2012." CROX has a $30 Price Target and closed at $26.04 a share yesterday.