Market Overview

UPDATE: Goldman Sachs Initiates Crocs at Buy on Value, Catalysts

Share:
Related CROX
Earnings Scheduled For July 29, 2015
Wunderlich's Social Media Survey: Crocs Revamped Look, Taylor Swift Drives Excitement For Keds, And More
It's Too Early To Bet On A Return To Growth For Crocs (Seeking Alpha)

Goldman Sachs initiated coverage on Crocs (NASDAQ: CROX) with a Buy rating and a $17 price target.

Goldman Sachs commented, "We think 3Q12 nicely reset expectations ahead of the company's core spring/summer selling season. Accelerating backlog growth reinforces customer confidence ahead of the company's strongest and highest margin season. Although management guided to 10%-15% sales growth with 14%-15% operating margins for 2013, it did not provide an explicit EPS target as it did these past six months. With the Street now at $1.56 (vs. $1.74 pre 3Q) for 2013 EPS, we see an opportunity for CROX to guide up and exceed expectations as it enters its key 1H selling season."

Crocs closed at $12.35 on Monday.

Latest Ratings for CROX

DateFirmActionFromTo
May 2015B RileyInitiates Coverage onNeutral
May 2015Piper JaffrayUpgradesMarket PerformOutperform
May 2015Standpoint ResearchDowngradesBuyHold

View More Analyst Ratings for CROX
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (CROX)

Get Benzinga's Newsletters