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Fly News Breaks for October 8, 2019
CROX
Oct 8, 2019 | 06:07 EDT
Piper Jaffray analyst Erinn Murphy raised her Q3 and Q4 estimates for Crocs after her firm's semi-annual survey of 9,500 teens. Crocs had the most impressive move in the survey this year, tying for the number seven spot along with New Balance, Murphy tells investors in a research note. This is the highest Crocs has ever been in the history of the survey and compares to its number 13 ranking last Fall and 27 ranking two years ago, Murphy points out. The company is the number 10 preferred footwear brand among upper-income teens but number seven among average-income teens, according to the survey. The analyst raised her price target for Crocs shares to $34 from $32 and keeps an Overweight rating on the name.
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