Crocs price target raised to $175 from $155 at Baird

Baird raised the firm’s price target on Crocs to $175 from $155 and keeps an Outperform rating on the shares. The analyst said the Q4 update included multiple positive developments, including stronger-than-expected Q4 EBIT margin performance, continued robust brand momentum, and reassuring 2023E EPS guidance which is front-weighted and includes multiple areas of conservatism.