Crocs price target raised to $165 from $110 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Crocs to $165 from $110 and keeps a Buy rating on the shares. The analyst is raising her sales and earnings estimates for Crocs following the company’s positive Q4 sales announcement and initial 2023 outlook while also citing the most recent store checks and commentary from its management last week at an investor conference. Champine adds that she expects expect double-digit growth for Crocs over the next five years and believes that some of the growth catalysts for the company are "underappreciated".