Pivotal Research analyst Mitch Kummetz upgraded Crocs to Buy and raised his price target for the shares to $21 from $15. The spring/summer season has "come on strong" in May, June and July-to-date for Crocs, Kummetz tells investors in a research note, citing his surveys of the independent footwear channel. The analyst now believes the company's Q2 reorders were solid, and that Crocs should at least reach the high end of its sales range for the quarter. Further, he thinks Q3 sets up well" for the company, given the "buy-now, wear-now nature of consumers today." Warm-weather product should sell well for back-to-school and into the early fall season, Kummetz contends.

UBS raised the firm's price target on Crocs to $124 from $117 and keeps a Neutral rating on the shares ahead of the Q1 report. The firm sees a balanced upside/downside skew over the earnings print.