Crocs price target lowered to $150 from $155 at KeyBanc

KeyBanc analyst Ashley Owens lowered the firm’s price target on Crocs (CROX) to $150 from $155 and keeps an Overweight rating on the shares following a Q3 beat and revised full year guide. Upside was driven by Crocs brand +7.4% year-over-year, though HEYDUDE came in below guide. For the full year, Crocs now expects revenue growth of +3% year-over-year, with HEYDUDE Q4 inflection pushed due to impact on digital related to shifting market allocation to brand from performance and lower wholesale sellouts, KeyBanc says.