Guggenheim lowered the firm’s price target on Crocs (CROX) to $150 from $155 and keeps a Buy rating on the shares. While the firm acknowledges uncertainty around the HEYDUDE turnaround, it is “optimistic” that ongoing HEYDUDE investments and the repositioning will gain traction in the second half and believes the Crocs brand remains strong, calling the stock “one of the cheapest names in our group.”
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