Piper Jaffray Reiterates Overweight Rating on Crocs

Piper Jaffray has published a research report on Crocs Inc CROX In the report, Piper Jaffray, wrote, "We are reiterating our Overweight rating and $38 price target following a preview of Spring 2012 styles at the FN Platform trade show. Key takeaways from our visit include unit and ASP growth driven by product innovation, strong wholesale growth supported by visual merchandising and product segmentation, and leverage from the "re-use" of existing product molds." Piper Jaffray rated Crocs an Overweight with a price target of $38.00. Crocs closed Monday at $23.52.