Needham initiated coverage of Crocs (CROX) with a Buy rating and $116 price target The story “certainly isn’t clean,” but the firm thinks the stock has been overly punished in recent months with shares down almost 40% since mid-June, which results in a positively skewed risk/reward heading into 2025, the analyst tells investors. The firm struggles to envision the EPS erosion embedded in valuation, which implies earnings to be down about 20% next year, and is also encouraged by the company’s compelling talent investments this year, the analyst added.
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Read More on CROX:
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- JPMorgan, Five Below downgraded: Wall Street’s top analyst calls
- Loop Capital downgrades Crocs on downside risk to 2025 estimates
- Crocs downgraded to Hold from Buy at Loop Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
