Crocs price target raised to $122 from $95 at B. Riley

B. Riley analyst Jeff Lick raised the firm’s price target on Crocs to $122 from $95 and keeps a Neutral rating on the shares ahead of the Q1 report at the end of April. Riley’s channel checks have Crocs brand revenue in line with guidance, with the wild card being the international business, which is roughly the same size as the North American business in Q1, the analyst tells investors in a research note. The firm sees potential upside for the company’s international revenue, gross margin for for both Crocs and HeyDude, and lower than expected operating expenses. It does not believe any of these items “likely move the needle much,” however.