Imperial Capital Boosts PT on Crocs (CROX) to $18

February 25, 2013 8:45 AM EST Send to a Friend
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Price: $11.68 +2.28%

Rating Summary:
    9 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 45 | New: 4
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Imperial Capital reiterated its Outperform rating and raised its price target on Crocs (NASDAQ: CROX) from $16 to $18 following Q4 results on 2/20/13.

"We believe Crocs is well positioned to generate double-digit sales and EBITDA growth 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."

The firm is maintaining 2013 pro forma EPS estimate of $1.57 (+12%) and introducing our 2014 pro forma EPS estimate of $1.75 (+12%).

For an analyst ratings summary and ratings history on Crocs click here. For more ratings news on Crocs click here.

Shares of Crocs closed at $15.43 yesterday.


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