Crocs (CROX) PT Raised to $27 at Susquehanna; 'Brand Momentum Improving'

Susquehanna analyst Sam Poser raised the price target on Crocs (NASDAQ: CROX) to $27.00 (from $25.00) while maintaining a Positive rating following an NDR. The firm notes brand momentum is improving through the crisis.

Poser commented, "After hosting a virtual NDR with management, it is clear that the strength of the Crocs brand has recently improved, despite revenue headwinds due to the impact of Covid-19. Brand momentum continues. Owned e-commerce revenue in North America and Europe are currently running up triple digits with few, if any, discounts. Sales at and to e-tailers are strong, and the e-commerce sales component of B&M wholesale partners also remains strong."

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