UBS lowered the firm’s price target on Crocs (CROX) to $85 from $110 and keeps a Neutral rating on the shares. The firm does not view the post-earnings selloff as a buying opportunity. Crocs’ fundamentals are unlikely to bounce back over the medium-term and may continue to get worse, the analyst tells investors in a research note. UBS sees a balanced upside/downside skew for the shares post the pullback.
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