Loop upgrades Crocs on buying opportunity around tariffs

Loop Capital upgraded Crocs (CROX) to Buy from Hold with an unchanged price target of $110. The stock’s valuation is attractive, and management “sounded on plan” at Loop’s conference this week, the analyst tells investors in a research note. The firm says Crocs expects direct-to-consumer to grow this year at Hey Dude. It believes its expectation for 1% growth in the channel may prove conservative. Hey Dude is lapping easy comparisons, and DTC may show upside growth in Q1, contends Loop. It thinks the stock’s volatility around tariffs has created a buying opportunity.