Crocs price target raised to $118 from $95 at Piper Sandler

Piper Sandler analyst Abbie Zvejnieks raised the firm’s price target on Crocs to $118 from $95 and keeps an Overweight rating on the shares. The analyst cotinues to see momentum behind Crocs and Hey Dude, and her data trackers point to reasonable promotional levels. Retailers such as Journey’s, Shoe Carnival, and Famous Footwear are calling out a casual footwear trend that should benefit both Crocs and Hey Dude, and Academy highlighted Crocs and Hey Dude as key brands where the business is seeing strong sales, Zvejnieks tells investors in a research note.