Sterne Agee Raises EPS Estimates on Crocs

A report from Sterne Agee reiterates its Buy rating and $30 price target, and raises its FY '11 and '12 estimates to $1.25 and $1.48 on Crocs (NYSE: CROX).

The report states, “We are raising our FY11 and FY12 adjusted EPS estimates from $1.19 and $1.42 to $1.25 and $1.48. We believe there is no reason our FY12 revenue estimate of $1,187M (+18%) shouldn't be met or exceeded given the accelerating backlogs and continued demand for product."

CROX closed yesterday at $17.