From Oversold To Outperform: Analyst Highlights Crocs' Alluring Valuation And Robust Margins
Portfolio Pulse from Shivani Kumaresan
Raymond James analyst Rick B. Patel upgraded Crocs Inc (NASDAQ:CROX) from Market Perform to Outperform and set a price target of $110. The analyst believes the stock is oversold and sees a favorable risk/reward ratio due to a highly discounted P/E and EV/EBITDA. Despite recent challenges, Crocs maintains strong operating margins and the brand remains strong. The company's strong free cash flow enables accretive buybacks and debt paydown.
October 20, 2023 | 5:07 pm
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Crocs Inc has been upgraded to Outperform by Raymond James, with a price target of $110. The analyst cites the stock being oversold and the company's strong operating margins as reasons for the upgrade.
The upgrade by Raymond James is a positive signal for Crocs Inc. The analyst's comments about the stock being oversold and the company's strong operating margins suggest potential upside for the stock. This could lead to increased investor interest and a potential increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100