Crocs price target raised to $185 from $165 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Crocs to $185 from $165 and keeps a Buy rating on the shares. The company’s Q4 results were "positive" while the management offered higher than expected outlook for 2023, the analyst tells investors in a research note. The firm adds that it expects double-digit growth for the company over the next five years, and believes that several of its growth catalysts – including normalized promotional activity and accelerating grwoth rate from Hey Dude acquisition – are underappreciated.