Crocs price target lowered to $175 from $185 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Crocs to $175 from $185 but keeps a Buy rating on the shares after its Q2 earnings beat. The firm continues to expect 13% growth at Crocs this year but reduces its long-term growth estimate to just below 10% over the following four years on lower growth goals for the Hey Dude brand, the analyst tells investors in a research note. Loop adds however that the Hey Dude acquisition should still accelerate the overall long-term growth rate for the company.