Sterne Agee Has Buy on CROCS

Sterne Agee is out with a research report on CROCS INC. (NYSE: CROX) and it has a Buy rating and a $30 price target on shares.

In a note to clients, Sterne Agee writes, "We expect that CROX will remain in the penalty box through 1Q12 results. Our channel checks indicate a strong support of the new products being offered in both fall and spring. We expect that the stock will recover to some degree following this week's earnings call, then recover a bit more around the ICR conference in mid January, and get back in the area of recent highs around the time of the 1Q12 earnings call in April 2012. Despite the 3Q11 miss, we would not be surprised to see 20% top-line growth next year, and a healthy increase in EBIT margins."

Shares of CROX gained 2 cents on Friday to close at $15.25.