Piper Jaffray Says Crocs (CROX) Is A Double
More News related to CROX
- Crocs, Inc. Announces Reporting Date for Fourth Quarter Financial Results and Conference Call
- Stock Alert for Crocs Inc. Issued by Beacon Equity
- Crocs, Inc. Leads Community in Collections for Earthquake Victims
- Emerging Stock Report Initiates Independent Research Coverage on Crocs, Inc.
- Morning Movers 01/14: ETRM, LAB, TSTR, CROX, HEB Higher; ROSG, MRNA, IPII, MED Lower
More News related to Analyst Comments
- Morgan Stanley Says Buy Commodities on Recent Dip
- JPMorgan Close to Upgrading UAL, AMR, US Airways; Raises Estimates on UAL Following Traffic Results (UAUA, AMR, LCC, more)
- S&P Revises Credit Outlooks On BofA (BAC) and Citi (C) to Negative, Saying No More Free Govenment Handouts
- S&P Revises Outlook on Citigroup (C) from Stable to Negative
- Wedbush Maintains an 'Outperform' on Electronic Arts (ERTS); Lowers PT & Estimates
After Piper Jaffray conducted various site visits, it believes even more in the Crocs (Nasdaq: CROX) growth story. Piper reported accelerated reorders from retailers during this holiday season. Year-to-date through FQ3, Europe sales have eclipsed $135M.
Piper Jaffray reiterated its Buy rating and growth thesis on Crocs and anticipates in-line FQ4 results and strong FY08 growth. Piper expects international markets to outgrow Crocs' U.S. sales, both as new styles are introduced and doors are added. Margins in foreign regions remain above company averages, further additive given favorable currency translation. Piper says shares are attractively priced for growth, trading at just 15x forward year estimates.
Piper has a $82 price target based on 30x FY08E EPS.
Crocs is a manufacturer of casual footwear and apparel.
Related Categories
Analyst CommentsStocks Mentioned
+0.17Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
