UPDATE: Imperial Capital Initiates Crocs at Outperform on Valuation and Outlook
Imperial Capital initiated coverage on Crocs (NASDAQ: CROX) with an Outperform rating and a $16 price target.
Imperial Capital commented, "We believe Crocs is well positioned to generate sales and EBITDA growth in the 15%+ range over the coming years given continued efforts to broaden its product assortment, aggressively grow its specialty retail store footprint, further develop its internet business, and move into new geographies globally. In our view, valuation looks attractive with the stock trading at a significant discount to its peers and its historical average. Near-term risks include the difficult external environment in Japan and Europe which could limit upside to earnings in 2013."
Crocs closed at $13.30 on Wednesday.
Latest Ratings for CROX
|Aug 2016||Susquehanna||Initiates Coverage on||Neutral|
|May 2016||Sterne Agee CRT||Upgrades||Neutral||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.