Standpoint Research Upgrades Crocs (CROX) to Buy; Use Dip As Entry Point

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Standpoint Research upgraded Crocs (NASDAQ: CROX) from Hold to Buy with a price target of $25.00.

Analyst, Ronnie Moas, said, "This is our sixth time in this name in less than three years … we are 5-for-5 so far; see table below. For the record, I usually go into this after an earnings disappointment and sell on a beat...This is a name that doesn’t need to be over-analyzed...Our long term outlook is unchanged … $1.75 in EPS potential looking out to 2013-2014 and we would attach a 14X multiple to that."

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 $22.04 yesterday, with a 52 week range of $14.20-$32.47.

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