Piper Jaffray Ratchets Up Price Target On Crocs (CROX)

Piper Jaffray is raising the price target and earnings estimates on Crocs, Inc. CROX, as it remains one Piper's top growth picks. It increased the price target to $18 from $17, and raised earnings estimates to 88 cents per shares. It has an Overweight rating on shares. In the research note, Piper Jaffray writes, "We are reiterating our Overweight rating on CROX and raising EPS ests slightly following meetings with CROX mgmt in Europe. CROX remains one of our top growth stock ideas given the significant growth potential across all major global regions and potential for meaningful margin expansion. Following our visit, we believe mgmt remains focused on aggressively expanding European retail and e-commerce, increasing directly operated markets and gaining share with a new country-specific operational structure." Shares of Crocs lost 45 cents yesterday to close at $11.23, a loss of nearly 4%. Click here to get trading ideas that could bring you a 100% return.