Crocs, Inc. (NASDAQ:CROX) shares edged lower despite optimism around margin strength, international growth and ongoing shareholder returns.
The outlook reflects near-term pressure in North America, with expectations of a stronger recovery later in the year.
Bank of America Securities analyst Kendall Toscano reiterated the Buy rating on the stock, with a price forecast of $120.
Analysts’ Take
Toscano said first-quarter results are expected to be roughly in line with estimates, with sales pressured by reduced discounting and wholesale changes.
She said earnings upside could come from strong gross margins, international momentum and ongoing share buybacks over time.
The analyst added that improving North America trends could drive multiple expansions as the company shows clearer signs …
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