Crocs price target lowered to $155 from $182 at Guggenheim

Guggenheim analyst Robert Drbul lowered the firm’s price target on Crocs (CROX) to $155 from $182 and keeps a Buy rating on the shares. The firm expects a tougher spending environment in North America and in China but still expects Crocs North American DTC to remain positive in Q4, tempered by a prolonged HEYDUDE softness. The firm maintains its FY24 EPS estimate of $12.90, but reduced its FY25 EPS view to $13.00 from $14.00 given additional investments to stabilize HEYDUDE, the analyst tells investors.