Guggenheim starts Crocs with Buy, says brand ‘here to stay’

Guggenheim last night initiated coverage of Crocs with a Buy rating and $182 price target The analyst believes the Crocs brand is “here to stay.” The brand has demonstrated resiliency, while achieving “enviable” high global brand awareness, the analyst tells investors in a research note. The firm thinks current share levels are “more than adequately pricing in various levels of skepticism.”