Crocs price target lowered to $180 from $190 at Baird

Baird lowered the firm’s price target on Crocs (CROX) to $180 from $190 and keeps an Outperform rating on the shares. The firm said Q3 was relatively solid but not quite a “typical” CROcs beat, and the company raised the 2024E EPS guide mid-point, but a tougher spending environment and longer HEYDUDE turnaround are weighing on confidence.