Crocs price target lowered to $146 from $148 at UBS

UBS analyst Jay Sole lowered the firm’s price target on Crocs to $146 from $148 and keeps a Neutral rating on the shares. The firm’s work suggests Crocs and HEYDUDE brand sales in the U.S. are doing “ok,” but Crocs’ international sales are likely strong, the analyst tells investors in a research note. UBS expects a small Q2 EPS beat, and thinks these fundamental trends will allow Crocs to give Q3 guidance bracketing consensus and maintain its FY24 EPS outlook.