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CROX - Crocs Inc News Story

$38.59 1.1  2.8%

Last Trade - 07/08/20

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.99bn
Enterprise Value £2.09bn
Revenue £910.6m
Position in Universe 1618th / 6395

BUZZ-Crocs: Gains as brokerages raise PT on management's recovery hopes

Mon 8th June, 2020 4:54pm
** Shares of clogs maker  CROX.O  rise 8.5% to about
three-and-a-half month high of $36.65 
    ** At least three brokerages raise PTs on CROX as management
takes a bullish tone on near-term recovery and longer-term
opportunities 
    ** About 80% stores are open across the globe and sales are
both store and online are stronger than expected, CEO Andrew
Rees said at a recent conference 
    ** "We believe that the consumer is flocking to CROX due to
the comfortable nature of their footwear" - B Riley analyst
Susan Anderson
    ** Says CROX will benefit as consumers continue to shift
towards comfortable footwear and apparel
    ** Susquehanna analyst Sam Poser says checks with industry
contacts also show "exceptionally high" demand for CROX products
despite the difficult retail environment; raises PT to $43 from
$27
    ** CROX among the few names in our group with positive
revision potential in the H2, says Piper Sandler analyst Erinn
Murphy; raises PT to $42 from $28 
    ** Including session gains, stock down ~14% this year
    

 (Reporting by Nivedita Balu in Bengaluru)
 ((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))
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