Crocs price target raised to $155 from $149 at KeyBanc

KeyBanc analyst Ashley Owens raised the firm’s price target on Crocs to $155 from $149 and keeps an Overweight rating on the shares. The firm thinks the stock will continue to work this year via Crocs brand resonating, even in a challenged environment, and continuing to lead consolidated growth, despite softness in HEYDUDE trends. The momentum in the Crocs brand continues to be supported by buzzy collabs the company produces. KeyBanc continues to monitor HEYDUDE trends, with the company noting a greater push into back half brand marketing, evidenced by the recently announced partnership with Sydney Sweeney.