Crocs price target lowered to $95 from $120 at KeyBanc

KeyBanc lowered the firm’s price target on Crocs (CROX) to $95 from $120 and keeps an Overweight rating on the shares. The firm notes the company reported a decent quarter, but shares fell -29% due to a weaker than expected outlook, reflecting anticipated second half of the year headwinds from reduced inventory receipts, further resets in HEYDUDE, tariff-related pressure, and reduced Crocs discounting amid softening sentiment.