Bank of America: Croc Has Reaffirmed Position as a Year-Round Brand

According to a research report released earlier today, Bank of America said the expanding boot assortment Crocs Inc. CROX just previewed at FN Platform at MAGIC in Las Vegas has reaffirmed the company's position as a year-round brand. In the report, Bank of America commented, “The Fall 2012 line includes an expanded number of boot styles across the price spectrum. Leveraging the strength of the Cobbler line in 2011, CROX will introduce Cobbler boots including the Cobbler Studded Boot retailing for $110. The Super Molded Iridescent Weave boot will also sell for $110 while two new rain boots, the Rainfloe ($75) and Wellie Patent ($72) will be at lower prices. In men's, the company is introducing the Sherpa-lined Duck Boot which will retail for $75 with a low rise version priced at $65.” Bank of America maintains its Overweight rating and $30 PT on Crocs, which closed yesterday at $20.20.