KeyBanc raises PT on Crocs as casual footwear maker sees strong demand
26/09/2024 12:49
** Brokerage KeyBanc Capital Markets raises PT on Crocs
CROX.O to $155 from $149 citing benefits from improving trends
within co's brands
** CROX continues to see strong demand with the Crocs brand,
though sentiment is a bit pressured due to Hey Dude brand taking
longer than expected to rightsize - brokerage
** Adds, accelerated marketing actions in the second half of
the year could help support Hey Dude brand
** Notes, demand trends for Hey Dude brand improved during
the months of July and August compared to the summer months
** New PT represents 8.4% premium to stock's last close of
$143.04
** Thirteen of 16 brokerages rate the stock "buy" or
"higher" and three "hold"; their median PT is $163.50, as per
estimates compiled by LSEG
** Up to last close, stock up nearly 53% YTD
(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com;))