UPDATE: Piper Jaffray Raises PT on Crocs to $36

Loading...
Loading...
Piper Jaffray is out with its report today on Crocs
CROX
, raising its PT from $28 to $36. In a note to clients, Piper Jaffray writes, "A review of best selling styles on Crocs' domestic website indicates the mix of new styles steadily increased during the spring/summer selling season and a similar analysis using the company's European websites points to comparable results in international markets. As such, we are raising our FQ2 estimate from $0.43 to $0.45 and our FY11 estimate from $1.10 to $1.14. We are also raising our price target from $28 to $36 based on 25x FY12E EPS as we believe Crocs has a multi-year opportunity to grow EPS at or above an annual rate of 25%." Piper Jaffray maintains Overweight on CROX. Shares of CROX closed Thursday at $26.92, down 1.72% from Wednesday's close.
Posted In: Analyst ColorPrice TargetAnalyst RatingsPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...