Piper Jaffray Overweight On Crocs (CROX)

Piper Jaffray has an Overweigt rating and a $28 price target on shares of Crocs CROX. In a note to investors, Piper Jaffray writes, "We are reiterating our Overweight rating and $28 price target following an analyst day at the company's headquarters. Management presentations highlighted the importance of innovative products as new styles are a key driver of global growth. Strong top line trends should be further supported by U.S. retail store improvements beginning in FQ4 and a segmented approach to the domestic wholesale business. In addition, we continue to believe prior infrastructure investments can deliver operating margin expansion beyond management's 15% goal." Shares of CROX gained 57 cents yesterday to close at $21.57, a gain of 2.7%.