Crocs To Gain From Double-Digit Growth Internationally Despite China Slowdown: Analyst Explains Why
Portfolio Pulse from Nabaparna Bhattacharya
BofA Securities analyst Christopher Nardone maintains a Buy rating on Crocs, Inc. (NASDAQ:CROX) with a price target of $179, citing strong international growth despite a slowdown in China. The analyst predicts modest growth in North America and raises 2024 earnings estimates slightly. The stock is seen as undervalued with potential for a higher P/E ratio.
September 10, 2024 | 4:12 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
BofA Securities analyst Christopher Nardone reiterates a Buy rating on Crocs, Inc. with a price target of $179. Despite a slowdown in China, Crocs is expected to achieve strong international growth. The analyst predicts modest growth in North America and raises 2024 earnings estimates slightly. The stock is considered undervalued with potential for a higher P/E ratio.
The analyst's reiteration of a Buy rating and a price target of $179 suggests confidence in Crocs' growth prospects, particularly internationally. The slight increase in earnings estimates and the view of the stock as undervalued with potential for a higher P/E ratio are positive indicators for the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100