Goldman Sachs initiated coverage of Crocs (CROX) with a Sell rating and $88 price target Strong execution could sustain momentum for sportswear and footwear brands that have driven significant market share gains over the past few years, but the firm believes accelerating competition and shifting consumer preferences make for “a more muted near-term backdrop for the industry overall,” the analyst tells investors. While “constructive” on Crocs’ differentiated marketing and innovation capabilities, the firm sees risk of normalizing demand for the company’s classic clog that will temper domestic growth momentum and limit the pace of international expansion, the analyst added.
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Read More on CROX:
- Crocs Stock: Buy Rating Affirmed Amid Strong Margin Defensibility and International Growth Prospects
- Crocs price target lowered to $135 from $140 at BofA
- Strategic Brand Enhancements and MAP Policy Evolution Justify Buy Rating for Crocs and HEYDUDE
- Crocs Confirms Key Decisions at Annual Meeting
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