According to Piper Jaffray, Crocs CROX Overweight rating is reiterated.
Piper Jaffray said that it reiterates its OW rating and $30 price target as it believes the current valuation represents an attractive buying opportunity. “Our $30 price target is based on 20x our FY12 EPS of $1.52 and we note shares currently trade at only 10.1x next year's EPS for a PEG of 0.44x.”
Crocs closed yesterday at $15.41.
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