Crocs price target lowered to $135 from $140 at BofA

BofA lowered the firm’s price target on Crocs (CROX) to $135 from $140 and keeps a Buy rating on the shares. Shares screen inexpensive for low- to mid-single digit total sales growth and 22.5%-23% operating margins over the next 2-3 years, while the stock has now priced in a more cautious U.S. wholesale environment, the analyst tells investors in a research note. The firm thinks $13 in EPS is on the table for fiscal 2025.