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Author: Sam Boughedda
Investing.com – Monness Crespi and B.Riley analysts said the current weakness Crocs Inc (NASDAQ 🙂 shares are available for purchase as a result of HEYDUDE.
Crocs announced it last week Heydude will acquire privately owned $ 2.5 billion. The company’s shares fell more than 11%, and as a result, CEO Andrew Rees came out to defend the purchase.
Monness Crespi analyst Jim Chartier also defended the deal, saying it would be a buyer of the current weakness of Crocs shares because of its confidence in the 5-year CAGR’s 17% sales forecast and the buyout seems “very fitting”. “Chartier repeated the Buy rating and the $ 180 price target on the shares.
To give another boost to shareholders, analyst Susan Anderson B.Riley said the purchase is likely to add $ 1 in BPA in 2022 and the sale is likely to buy Crocs shares.
Elsewhere, analyst Sam Poser Williams Trading raised his price target on CROX to $ 300 while maintaining a buy rating of $ 220. Jim Duffy of Stifel reiterated Crocs ’Hold rating and $ 157 price target, stating that the deal adds“ an additional franchise to the fast-growing shoe industry ”.
“Crocs management has proven to be adept at scaling a digitally focused youth footwear brand, and we see strategic synergies and platforms for growth and margin,” Duffy explained.
At the time of writing, Crocs shares have risen 3.3%, although still below pre-agreement levels.
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